Jim Walton Among Four Retiring From Walmart Board
by April 20, 2016 5:09 pm 989 views
Wal-Mart Stores Inc. announced Wednesday that four of its board members, including Jim Walton of Bentonville, will not stand for re-election at this summer’s shareholders’ meeting on June 3 in Fayetteville.
The company also announced that as part of the board’s succession planning, the board has nominated Steuart Walton for election to the Walmart board. Steuart Walton is a grandson of company founder Sam Walton, and one of Jim Walton’s three sons.
Other board members who will not stand for re-election are Aida Alvarez, Roger Corbett, Mike Duke.
Those standing for election and for re-election to the board include: Greg Penner, Jim Cash, Pam Craig, Tim Flynn, Tom Horton, Marissa Mayer, Doug McMillon, Steve Reinemund, Kevin Systrom, Rob Walton, Steuart Walton and Linda Wolf.
The changes will reduce the number of directors serving on the board from 15 to 12, but the board will maintain its current independent majority at 67 percent.
More details about the changes to the board of directors can be found here.
Also on Wednesday, Walmart filed its Proxy Statement in preparation for it’s the shareholders’ meeting. In addition, the company issued its 2016 Annual Report along with its Global Responsibility Report and Global Compliance Program Report.