Real-Time Quote
Quote | News | Chart | Details
AA News & Analysis
New York Pension Funds to Challenge Wal-Mart
01 May 2012 EDT - The New York Times
Page 1 of 6 | Next Page
Show Entire Article

Concerned about Wal-Mart’s reported cover-up of bribery in its Mexico operations, leaders of New York City’s pension funds said Monday they would vote their 4.7 million company shares against five directors standing for re-election to the retailer’s board at its annual shareholder meeting next month, the New York Times reports.

It was unclear whether other investors would join the city pension funds and vote against Wal-Mart’s directors. Board members at some large public companies have come under fire from shareholders at annual meetings this year, but most of the opposition has been related to executive pay practices. It is unusual for board members to be unseated by a shareholder vote.

With Wal-Mart’s internal practices under the microscope, however, some investors said the company’s annual meeting could be contentious.

Page 1 of 6 | Next Page
Show Entire Article
AA News & Analysis
Real-Time Quote
omniture pixel