Human Resources

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.

New York-- Retail executives have more cash, are adding employees and enjoying stronger revenue, but they remain quite guarded longer term, not seeing a complete economic recovery until 2014 or later, according to the 2012 Retail Outlook Survey by audit, tax, and advisory firm KPMG LLP.

In the recent survey, 77% of retail executives indicate that their companies have significant cash on the balance sheet – up from 72% in KPMG's 2011 survey – and 56% say their companies' cash positions have increased from last year. 

New York -- Wal-Mart Stores is expected to face scrutiny from shareholders at its annual meeting on Friday in the wake of allegations of bribery  in Mexico.

The allegations are being investigated by the U.S. Department of Justice, the U.S. Securities and Exchange Commission and government agencies in Mexico. Wal-Mart is also conducting an internal probe.
 

Pittsburgh -- American Eagle Outfitters announced that Mary Boland has been appointed executive VP, chief financial and administrative officer, effective July 9.

Boland’s responsibilities will include finance, investor relations, merchandise planning and allocation, strategy planning, and other administrative functions. She joins AEO from Levi Strauss & Company where she most recently served as senior VP of finance for Global Levi’s.
 

PITTSBURGH — American Eagle Outfitters has named Mary Boland as EVP, chief financial and administrative officer, effective July 9. Boland’s responsibilities will include finance, investor relations, merchandise planning and allocation, strategy planning, and other administrative functions.

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.

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.

PITTSBURGH — Dick’s Sporting Goods plans to open a new format focused on runners later this summer.

The new concept called True Runner will be located on Walnut Street in an affluent area of Pittsburgh known as Shadyside, the company said. Dick’s offered no additional details on the opening date, store size or product assortment, but it is clear from the limited comments made by a company executive that the store will focus on running enthusiasts.