Vote of no confidence against Walmart chairman Rob Walton

Vote of no confidence against Walmart chairman Rob Walton

A storm is brewing at Walmart as a group of employees has asked the shareholders to not re-elect Rob Walton as the chairman of the world's largest distributor. There was already very little chance of that happening anyway.

OUR Walmart demands independent chairman

The remarkable letter against Rob Walton comes from OUR Walmart (Organization United for Respect at Walmart), which is a labour union-supported group of employees and shareholders active in three separate levels of the organization.

 

OUR Walmart believes the concern has faced one scandal after another and explicitly refers to the Californian environmental breaches, the Mexico bribe scandal, complaints about low wages and harsh working conditions and Walmart's questionable involvement in Bangladesh.

 

That is why OUR Walmart has implored shareholders to refrain from keeping Rob Walton on as chairman at the upcoming meeting of 6 June, because he has been "chairman of the board during the entire period before, during, and after the alleged bribery, initial investigation, alleged cover-up, and subsequent investigations."

 

Over 50 % of shares in family's hands

It is only a remote possibility that Rob Walton will have to step down as his family, the richest family in America with an estimated value of 140 billion dollars, owns more than half of the company's shares, which means the result is already clear.

 

Despite all this, the family's patriarch has received an increasing amount of criticism over the past few years during shareholder meetings. When he was re-elected in 2011, 99 % of the non-family shareholders backed him, but only a year later - when the Mexico bribery scandal hit - nearly a third of these shareholders voted against him. Even as recent as last year, when Walmart had to deal with negative publicity because of its wage and labour policy (which included being forced to work on Thanksgiving's day), nearly 22 % of shareholders voted against Rob Walton.

Questions or comments? Please feel free to contact the editors


Retail & wholesale support EU Plastics Strategy

19/01/2018

(Content provided by EuroCommerce) The retail and wholesale sector sees the publication of the EU Plastics Strategy as a welcome step towards a more circular economy, which it hopes will transform the way plastics are produced, used and discarded.

LensGroup acquires two German web shops

18/01/2018

Belgian LensGroup, which owns lens web shop LensOnline, has acquired two German competitors.The entry on the German market means the company is now active in five European countries.

Will your company win the bpost Omnichannel Award 2018?

18/01/2018

Which retailer will succeed Juttu in 2018 as the winner of the bpost Omnichannel Award? Candidates can now register, the award will be presented during the RetailDetail Omnichannel Congress on 1 March.

British supermarket chain Iceland gives plastic the boot

17/01/2018

British frozen food chain Iceland will be the first supermarket chain to cut all plastic packages from its private labels. By 2023, each of its 1,400 private label products will have more sustainable packaging, like cardboard and paper, alternatives to plastic.

Hema will open stores in Middle-East

15/01/2018

Hema will head outside of Europe for the first time ever: it will open three stores in Dubai later this year. In the next five years, the Dutch chain aims to open a sizeable number of Middle-Eastern stores.

Metro Group is happy with first quarter

15/01/2018

German Metro Group is happy with its first quarter results. Turnover, after exchange rate fluctuations, has only grown 0.2 %, but there was a 0.8 % like-for-like turnover increase.

Back to top