SUBSCRIBE TO TMCnet
TMCnet - World's Largest Communications and Technology Community

TMCNet:  Walmart Shareholders Urge Company to Disclose Recoupment From Senior Executives for Actions Causing Financial or Reputational Harm

[June 14, 2014]

Walmart Shareholders Urge Company to Disclose Recoupment From Senior Executives for Actions Causing Financial or Reputational Harm

(Targeted News Service Via Acquire Media NewsEdge) HARTFORD, Conn., June 13 -- The Connecticut Treasurer issued the following news release: At Walmart's annual meeting on June 6th, 38 percent of independent shareholders voted to require the company to annually disclose whether Walmart recouped pay from its senior executives for breaking laws and causing significant financial and reputational harm. The vote is up from last year's vote of 32 percent on a similar proposal co-sponsored by the Connecticut Retirement Plans and Trust Funds ("CRPTF").


"For Walmart to improve its short-term financial performance and sustain long-term shareholder value, it is essential for the Board to step up its management of risk," said State Treasurer Denise L. Nappier. "Among other high-profile misadventures, Walmart recently was charged with illegally threatening and punishing workers protesting for better pay and working conditions. Directors of Walmart would do well to better link executive pay with ethical behavior as other companies -- including United Technologies, Lockheed Martin and Capital One -- have done. Improving transparency and accountability only adds to a company's long-term sustainability." Filers of this year's proposal, in addition to the CRPTF, include: UAW Retiree Medical Benefits Trust; Illinois State Board of Investment; Amalgamated Bank Long View Funds; and F&C Management Ltd.

More details are set forth in the following press release from the UAW Retiree Medical Benefits Trust and the Illinois State Board of Investment.

Click here (http://www.ott.ct.gov/pressreleases/press2014/PR061314ShareholdersonWalmartClawbacks.pdf) to view the press release.

TNS 24KuanRap-140614 30FurigayJof-4767918 30FurigayJof (c) 2014 Targeted News Service

[ Back To Technology News's Homepage ]

OTHER NEWS PROVIDERS







Technology Marketing Corporation

800 Connecticut Ave, 1st Floor East, Norwalk, CT 06854 USA
Ph: 800-243-6002, 203-852-6800
Fx: 203-866-3326

General comments: tmc@tmcnet.com.
Comments about this site: webmaster@tmcnet.com.

STAY CURRENT YOUR WAY

© 2014 Technology Marketing Corporation. All rights reserved | Privacy Policy