Walmart

Walmart’s strategy of every day low prices underpinned by an every day low cost operating model will work everywhere in the world, according to international division president and CEO Doug McMillon.

Responding to a question about improving international financial returns, McMillon weighed in on the need to deliver on the strategy of every day low prices on a broad assortment and how that is the right approach internationally in large format stores.

See what Walmart president and CEO Mike Duke had to say about the company’s growth prospects. For a transcript of his comments, click here.



 

Walmart shareholders upset by allegations of Foreign Corrupt Practices Act violations expressed their displeasure with the Walmart board by casting an unusually large number of negative votes against company insiders last Friday.

Several major shareholders had vowed to vote against key board members in advance of the annual shareholders’ meeting, although the move was seen as largely symbolic since the Walton family and other company insiders control a sufficient number of shares to ensure the defeat or passage of any proposal.

Walmart shareholders may wish the company were investigated more often, judging from the performance of shares since alleged violations by the Foreign Corrupt Practices Act first surfaced.

Walmart share’s closed Friday at $65.55, or 5% higher than the $62.45 price they were trading at on Friday, April 20 before The New York Times first reported on allegations of FCPA violations.

Strong performance of the fresh department at Sam’s Club and exceptional leadership earned SVP Shawn Baldwin the highest honor Walmart can bestow on one of its employees.

ST. PETERSBURG, Fla. — Catalina Marketing named Michael Murray to the newly created role of chief product officer.

BENTONVILLE, Ark. — Walmart held its annual shareholders’ meeting Friday morning against the backdrop of the company’s 50th anniversary and allegations of corruption in Mexico.

The seemingly diametrically opposed situations presented senior executives with the opportunity to underscore how the company’s unique culture and such enduring values as integrity would power future growth.

New York -- Wal-Mart Stores CEO Mike Duke on Friday called integrity the company’s “bedrock” value during a presentation at the chain’s annual shareholders meeting in Fayetteville, Ark. The meeting was held against the backdrop of allegations of illegal payments made to facilitate growth in Mexico, which Duke addressed directly in the following remarks: “We're working to continually strengthen our compliance efforts around the world,” he said.