Lee Scott News
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As Wal-Mart Stores Inc. prepares to anoint the fifth chief executive in its history, the world’s largest retailer is grappling with challenges founder Sam Walton never faced.
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Wal-Mart Stores Inc.’s board, as it prepares for new leadership at the company, has identified two internal candidates to succeed Chief Executive Officer Mike Duke, according to a person familiar with the situation.
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Wal-Mart CEO Mike Duke delivered upbeat news to the company’s semi-annual Sustainability Milestones Meeting in November 2009. The world’s largest retailer was on track to hit 36 of the 37 energy and environment goals Duke’s predecessor set for the company in 2005. Not everyone in the audience responded with glee.
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Goldman Sachs Group Inc. said board member H. Lee Scott , who helped review the bank’s business practices when the firm was sued by U.S. regulators, will quit after one year because of other commitments.
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In 2007, Lee Scott, then Wal-Mart Stores Inc.’s chief executive officer, trumpeted plans to open as many as 2,000 in-house medical clinics by mid-2012. He called the strategy “a great opportunity for our business.”
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Almost one-third of Wal-Mart Stores Inc.’s non-Walton-family shareholders voted against Chief Executive Officer Mike Duke and three other board members.
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U.S. House Democrats are looking to JPMorgan Chase & Co. , Goldman Sachs Group Inc. and Bank of America Corp. to pick up the tab for housing programs targeted by Republican budget cuts.
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Wal-Mart de Mexico SAB fell the most in more than 13 years after its parent company announced an investigation into allegations that representatives in the country bribed local officials to get stores opened faster.
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Wal-Mart Stores Inc. shareholders shouldn’t relect four directors, including Chief Executive Officer Mike Duke, because of a Mexican bribery probe, according to Institutional Shareholder Services Inc.
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The California State Teachers’ Retirement System will vote its 5.3 million Wal-Mart Stores Inc. shares against the entire board’s re-election amid a probe into alleged bribery in Mexican operations.
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