Superior Group of Companies Announces Board Observer Program
– Designed to Expose Traditionally Underrepresented Groups to Public Company Corporate Governance –
– Kelly Richmond Pope Named First Participant –
ST. PETERSBURG, FLA. – February 13, 2024 – Superior Group of Companies, Inc. (NASDAQ: SGC), is pleased to announce the formation of a Board Observer Program.
“Diverse perspectives lead to better decision-making and improved business outcomes”, said Michael Benstock, Chairman of the Board of Directors and Chief Executive Officer of SGC. “But far too often U.S. public company boards lack that diversity. We are taking this unique step to change that dynamic. We envision this as an annual program designed to give governance exposure to those traditionally underrepresented in boardrooms. While there is no expectation that the program participants will join our board, we believe our efforts will help more people get into the room.”
Participants in the non-voting Observer Program will be invited and expected to attend most Board and committee meetings and are encouraged to ask questions as well as lend their own perspective to those meetings. The goal is to provide participants with a firsthand understanding of the responsibilities and dynamics involved in serving on a public company board. This exposure is expected to contribute to their professional development and enhance their knowledge of corporate governance practices in order to help them be better positioned to join a public company board.
“It is our hope that this program will be an example that other company boards can use to help level the playing field,” said Todd Siegel, Chair of SGC’s Corporate Governance, Nominating & Ethics Committee.
“As someone that has experienced first-hand how difficult it can be to access public company board service, I am proud to help develop this leading edge program and be on the board of an organization that has chosen to dedicate valuable resources toward a greater purpose,” said Venita Fields, Chair of SGC’s Capital Committee. “I expect SGC’s Board Observer Program to provide critical skills and experience to many who otherwise would not have the opportunity, and over time enhance the quality of advice provided to many boards.”
SGC intends to select one or two new observers each year, with each observing for twelve months. The program’s first observer is Dr. Kelly Richmond Pope. For more information about Dr. Pope’s unique profile, please click here.
About Superior Group of Companies, Inc. (SGC):
Established in 1920, Superior Group of Companies is comprised of three attractive business segments each serving large, fragmented and growing addressable markets. Across Healthcare Apparel, Branded Products and Contact Centers, each segment enables businesses to create extraordinary brand engagement experiences for their customers and employees. SGC’s commitment to service, quality, advanced technology, and omnichannel commerce provides unparalleled competitive advantages. We are committed to enhancing shareholder value by continuing to pursue a combination of organic growth and strategic acquisitions. For more information visit www.superiorgroupofcompanies.com.
Contact: Investor Relations [email protected]