From Investing.com: 2024-04-25 19:16:05

1. Rob Walton, the longest serving board member at Walmart and son of founder Sam Walton, will retire in June. Walmart also revealed seven shareholder proposals in a regulatory filing, urging shareholders to vote against them. During Walton’s tenure, Walmart saw significant growth, with sales reaching $648.1 billion in the most recent year.

2. Walmart nominated Brian Niccol, CEO of Chipotle Mexican Grill, to replace Walton on the board. Rob Walton, worth $77.4 billion according to Forbes, owns 6.97 million shares of Walmart. The Walton family, richest in America, holds an estimated 45% stake in the company. The shareholder proposals aim to address inequality and sustainability issues in Walmart’s operations.

3. Walton played a key role in Walmart’s history, from its IPO in 1970 to various executive positions. His wealth is tied to investments and sports team ownership. The shareholder proposals seek to address compensation policies for workers and ethical sourcing practices. Steuart Walton, Rob’s nephew, will be the only family member left on Walmart’s board.



Read more at Investing.com: Walmart’s longest-serving director Rob Walton to retire from board By Reuters