Walmart Foundation: A “Lever” For The Company, But Not Enough To Pry Open New York

Walmart gives away millions and millions of dollars a year through the company’s Walmart Foundation. Its motivations aren’t purely philanthropic: As outgoing EVP Leslie Dach told investors in 2010, philanthropy bolsters Walmart’s reputation, and the company then seeks to use that reputation as “a lever” in achieving company goals, such as opening stores in new markets.

Walmart Shareholders Raise Concerns About Board’s Lack of Leadership

Following the revelation of the bribery scandal last spring, several large Walmart shareholders voiced concerns about Walmart’s governance. New York City Comptroller John Liu, a trustee for the NYC Pension Funds, announced the Fund’s decision to vote against re-electing Walmart directors who were implicated in the bribery scandal.  He stated: