|Page (1) of 1 - 06/01/12||email article||print page|
Wal-Mart CEO says 'integrity' is key to co. at annual meeting in wake of bribery allegations
FAYETTEVILLE, ARK. (AP) ' Wal-Mart Stores Inc. CEO Mike Duke says the retailer is committed to integrity in the wake of recent bribery allegations.
Duke joined Chairman Robson Walton at the company's annual meeting on Friday in pledging that Wal-Mart will get to the bottom of the allegations.
Shareholders had called for removal of several board members, including Duke, after allegations surfaced in April that Wal-Mart failed to notify law enforcement after finding evidence that officials authorized millions of dollars in bribes in Mexico.
But a preliminary tally shows all board members were re-elected. The descendants of founder Sam Walton own about 50 percent of Wal-Mart's shares, so activist shareholders had little chance of voting out members.