How did Walmart’s leaders respond to the myriad employees, investors, and proxy advisors urging the company to strengthen corporate governance standards by establishing an independent board chairman? Why, by entrenching Walton control of the company, of course, appointing director Greg Penner as the board’s vice chair and setting him up to succeed his father-in-law Rob Walton as chairman of the company.
From the Wall Street Journal:
Excellent piece from Ben Heineman Jr., a Senior Fellow of the Program on Corporate Governance at Harvard Law School, on Walmart’s Global Compliance Report and the state of the company’s FCPA investigations. An excerpt:
Environmental activists from the Institute for Local Self-Reliance and Environmental Action published a piece in the Huffington Post this week on the current state of Walmart’s environmental efforts, nine years after then-CEO Lee Scott proclaimed that the world’s largest retailer would become a leader on sustainability. An excerpt:
Politico broke the news earlier this week that Walmart hired lobbyists to fight a provision of the National Defense Authorization Act (NDAA) that would have cost the company business. Walmart has refused to sign the binding Bangladesh Accord on Fire and Building Safety, in favor of a voluntary alliance it formed with Gap and other retailers. From Politico:
Two weeks ago, Walmart director and Yahoo! CEO Marissa Mayer once again faced protesting Walmart workers, who disrupted a fireside chat at the Dreamforce ’13 conference.
Hey, so why are Walmart associates in OUR Walmart protesting Marissa Mayer and other members of Walmart’s Board of Directors? San Francisco Magazine actually talked to one of the protesters to find out: