BENTONVILLE, Ark., April 20, 2016 – Wal-Mart Stores, Inc. (NYSE: WMT) today issued its 2016 Annual Report, Global Responsibility Report, an update on its Global Ethics and Compliance Program, and filed its Proxy Statement in preparation for the company’s upcoming Annual Shareholders’ Meeting on Friday, June 3, 2016.
“Throughout our history, Walmart has been an innovator in retail,” Walmart President and Chief Executive Officer Doug McMillon said in his letter to shareholders. “We’re now living in a new period of disruption, largely driven by rapid technological advances, and that change is likely to accelerate even further. Our efforts are squarely focused on emerging as the retail leader. Around the world, we face stiff competition, but our future is within our control. The bottom line is this: we have the resources to chart our own destiny.”
Annual Report Highlights
The 2016 Annual Report, Only Walmart, provides shareholders with highlights of Walmart's achievements in the last fiscal year and key company-wide initiatives for the upcoming year and is available here.
In the report, McMillon highlights the company’s ongoing efforts to be the first company to deliver a truly seamless shopping experience at scale. His letter also addresses how the company will win with customers around the world, by focusing on the following initiatives:
- Setting expectations that Walmart will save customers money;
- Making it simple and easy to do business with Walmart, whether digitally or in stores;
- Creating an easier customer experience so they can find what they’re looking for, either in stores, on Walmart e-commerce sites, or with Walmart’s marketplace vendors;
- Increasing accessibility so customers can get products when and where they want them – in stores and clubs through pickup on or off-site, or delivered to their door.
The report also includes an update on governance and shareholder engagement from Chairman of the Board of Directors, Greg Penner. In his letter to shareholders, Penner states, “The past year has been a period of transition for Walmart as we make strategic investments to position the company for sustainable growth. Walmart’s Board of Directors fully supports these investments in people and technology as they will strengthen the company’s competitive position both now and in the future. As we look ahead, the board is confident that Walmart’s strategy is the right one, our governance processes are strong and management is fully aligned with an actionable plan for success.”
2016 Annual Shareholders’ Meeting and Proxy Statement
The company began distributing its Proxy Statement today with details of its Annual Shareholders’ Meeting, to be held on Friday, June 3, 2016, at 8 a.m. (CDT) in Bud Walton Arena on the University of Arkansas campus in Fayetteville, Ark. Only shareholders of record as of the close of business on April 8, 2016, the record date for the meeting, are entitled to vote at this year’s meeting.
Shareholders will vote on 12 Director nominees, three company proposals, and three shareholder proposals. Board members Aida Alvarez and Roger Corbett, both members of the board since 2006, Mike Duke, a member of the board since 2008, and Jim Walton, a member of the board since 2005, will not stand for re-election. The company has issued a separate press release describing the retirements and other pending changes to the board.
The 2016 Proxy Statement can be read online. Shareholders unable to attend the 2016 Annual Shareholders' Meeting in person may view a live webcast at stock.walmart.com.
Global Responsibility Report
Walmart’s 2016 Global Responsibility Report, the company’s ninth, outlines the company’s major milestones in fiscal year 2016 tied to social and environmental responsibility, specifically highlighting the company’s progress within those areas. The report also outlines Walmart’s priorities for its “whole systems” approach to continue to advance global responsibility in the key areas of opportunity, sustainability, and local communities. The report is available digitally and can be viewed online.
Global Ethics and Compliance Report
The company’s third report on its global compliance program discusses Walmart’s significant efforts to build and maintain a world-class ethics and compliance program. As explained in the report, in the last fiscal year the company and the Audit Committee of the Board of Directors identified objectives for continuing to enhance the company’s compliance program. The objectives addressed issues such as using technology to make the company’s ethics and compliance efforts more effective, furthering development of its anticorruption program, and continuing to lead on food safety. The detailed report is available here.
Jay Jorgensen, Executive Vice President, Global Chief Ethics and Compliance Officer, said, “Over the last few years, the company has invested heavily in enhancing our ethics and compliance functions to help us become the world’s most trusted retailer. These efforts reflect our commitment to doing business the right way and continuously improving as we adapt to changes in our operations and the marketplace.”
Wal-Mart Stores, Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. Each week, nearly 260 million customers and members visit our 11,528 stores under 72 banners in 28 countries and e-commerce websites in 11 countries. With fiscal year 2016 revenue of $482.1 billion, Walmart employs approximately 2.3 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://corporate.walmart.com on Facebook at http://facebook.com/walmart and on Twitter at http://twitter.com/walmart.