Company: CRL
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001104659-25-030908
Chunk: 50

Company: CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 50
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) at the end of 2022 that we expected the supply of Cambodia-sourced non-human primates would be difficult to obtain in the United States for some time period and (2) in February 2023 that we had voluntarily suspended planned future shipments of Cambodia non-human primates into the United States until such time that the Company and the U.S. Fish and Wildlife Service could agree upon and implement additional procedures to reasonably ensure that non-human primates imported to the United States from Cambodia are purpose-bred (2023 NHP Supply Disruption). Despite these near-term pressures, our financial performance in fiscal year 2024 demonstrated the resiliency and stability of the Company while facing stabilizing but lower client demand trends and broader macroeconomic and industry challenges. Talent Management, Belonging, and Engagement Sustaining our company culture is a vital part of our strategy. Our culture is built on trust, belonging, accountability, respect, well-being, and safety. We strive to maintain an environment wherein every person has the ability to deliver on business commitments, while having purpose, being energized, continuously learning, and delivering quality outcomes that make a difference. This includes: • reinforcing competitive pay by making appropriate adjustments to hiring rates and pay of current employees to ensure attraction and retention; • expanding our emotional and behavioral resources through traditional services and internal employee resource groups that are open to all employees; • conducting regular talent reviews to identify and develop global leadership and key talent pipelines to deliver on short-term and long-term business strategy; and • creating a global learning strategy that includes technical training, mentoring and coaching approaches, tuition reimbursement, sabbaticals, and on-the-job training to ensure access to skill building and career advancement for all. During the past decade, we implemented a variety of initiatives targeted at strengthening the business, enhancing client service, and continuing to return value to shareholders. Our actions in 2024 continue to advance our achievement of these initiatives and enabled us to manage through a more challenging demand environment. We are actively positioning the Company to leverage our leadership position in non-clinical drug development and be able to capitalize on opportunities both in the marketplace and when the demand environment improves. These actions included: • Strategic expansion of our portfolio to provide clients with the critical capabilities they require to discover, develop, and safely manufacture new drugs to further differentiate ourselves from the competition. In recent years, we have enhanced our scientific capabilities in areas that offer significant growth potential, including advanced modalities such as biologics and cell and gene therapies. By doing so