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Wal-Mart answers with global anti-bribery watchdog appointment
Bentonville, Ark. -- As part of its answer on Tuesday to a New York Times article regarding compliance with the U.S. Foreign Corrupt Practices Act, Wal-Mart Stores VP corporate communications David Tovar announced that the retailer had appointed a global officer to oversee compliance.
The move is just one of the steps that Tovar outlined toward managing issues related to the 1970s law that forbids bribing foreign officials.
Wal-Mart has not yet identified the person who will fill the slot, or when it will be activated.
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Castro-Wright resigns from MetLife board to focus on ‘protecting good name’
BENTONVILLE, Ark. — Amidst allegations of involvement in a foreign bribery scandal, Wal-Mart Stores vice chairman Eduardo Castro-Wright has vacated his seat on the board of life insurer MetLife, according to a Tuesday announcement by Wal-Mart.
In a letter to MetLife CEO Steve Kandarian, Castro-Wright said that the recent events at Wal-Mart would require his “immediate and personal attention. Accordingly, I now must focus my energy in spending personal time with my family and in protecting my good name and business reputation.”