2018 Walmart Shareholders Meeting

2018 Walmart Shareholders Meeting

For the first time in Walmart shareholder meeting history, Walmart’s top 1% has changed the rules to exclude the majority of Walmart workers from being present during business proposal votes on wage transparency and other issues that affect them on a daily basis, further silencing the voice of Walmart workers. Which begs the question…

What is Walmart Hiding? 

Click here to read the 12 Things Walmart is Hiding from Its Shareholders and the American Public

Click here to read the The Growing Wage Divide Between Walmart’s Top 1% and its Workers

“The opposite direction” from better corporate governance

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.

Governance enhancements for me, not for thee

Tucked away in Walmart’s recent proxy statement, under the heading “Recent Governance Enhancements – Shareholder Rights,” is this fun tidbit: “Shareholders holding 10% or more of the company’s common stock may request special shareholders’ meetings.”

Walmart needs an independent board chairman

For the second year in a row, Walmart shareholders will consider a resolution calling for the establishment of an independent chairman for the company’s board of directors. While investors have long expressed concern about the company’s failures in corporate governance and internal controls, that concern became more acute starting in 2012 after the New York Times published Pulitzer-winning expose detailing an (alleged) systematic campaign of bribery at Walmex, plus an executive-led campaign to cover it up.

Williams to step down as Walmart director

Wednesday’s proxy statement contained the interesting (though not entirely unexpected) news that Christopher Williams will not be seeking re-election to Walmart’s Board of Directors. According to Walmart, Williams is stepping down after 10 years on the board in accordance with the company’s guidelines on the tenure of outside directors. Whether that’s the whole story behind Williams’s departure or not, we don’t know, but regardless of the reason for Williams’s departure, we can think of two groups that are probably happy to see him go:

Takeaways from Walmart’s AnalystFest 2013, Part 1

Last Tuesday, Walmart brought Wall Street analysts down to Arkansas to get them up bright and early and show them PowerPoint presentations for hours (aka the “20th Annual Meeting for the Investment Community.”) Our invitation must have been lost in the mail, but we’ve sifted through the transcripts, news reports, and PR spin, and have some takeaways of our own. Here’s the first set:

Is Marissa Mayer too busy for Walmart?

In this post, we raise questions about Marissa Mayer’s contribution as a Walmart director. Specifically, given the enormous challenges she faces at Yahoo, does Mayer have the time and focus to help Walmart implement a winning eCommerce strategy? And could Mayer’s aggressive recruitment of top Silicon Valley engineers conflict with Walmart’s own effort to hire the best and brightest for its Bay Area technology shop, known as @WalmartLabs?