'Integrity,' 'Compliance' Take Center Stage At Wal-Mart Annual Meeting

by Chris Bahn  on Friday, Jun. 7, 2013 11:38 am  

Duke’s defense of the company included spotlighting Rene Garcia, an employee from Chile, who turned down a bribe from vendors wanting better product placement. 

Wal-Mart International CEO Doug McMillon offered some general comments about his division’s work to improve perception and bolster actions to fight corruption. He mentioned multiple times that global compliance is a priority for the company.

Board Chairman Rob Walton said that among the steps Wal-Mart is taking are moving legal and ethics work under "one organization." Walton, son of company founder Sam Walton, also noted Wal-Mart meeting compliance goals would be among the triggers for executive bonuses.

Walton told the crowd early in the meeting that he expected protestors during the event, but the meeting was never disrupted. Earlier this week, Wal-Mart was granted a court order preventing protestors from being on company property. There did not appear to be protestors outside the arena in the lead-up to the meeting, though groups did stage demonstrations throughout northwest Arkansas during the week.

Other highlights from the meeting:

  • Sam’s Club CEO Roz Brewer announced the launch of a pilot program that will serve as a small business boot camp in about 200 locations nationwide.
  • Wal-Mart U.S. added $10 billion in net sales last year.
  • Wal-Mart International contributed 30 percent of the company’s net sales.
  • Sam’s Club posted $56 billion in net sales.
  • Duke said e-commerce is expected to generate $10 billion in sales globally this year.
  • In addition to Jackman and Legend, performers/presenters included actor Tom Cruise and singers Kelly Clarkson and Jennifer Hudson.

 

 

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