ROGERS, Ark.--(BUSINESS WIRE)--Walmart Inc. (NYSE: WMT) today announced shareholder voting results for its Formal Business and Annual Shareholders’ Meeting. Approximately 92 percent of all outstanding shares were present or represented by proxy at the meeting.
During the business meeting, Walmart President and CEO Doug McMillon commented, “Our top priority is to serve customers. Sam Walton was called a merchant with a servant’s heart, and we still embody that mindset today. Over the years, we’ve learned that the best way to serve our customers is by creating shared value among our broad group of stakeholders. That means we consciously work to balance the interests of our customers, our associates, shareholders, suppliers, communities and our broader influence on the world.”
The company reported that shareholders approved the election of each of Walmart’s 12 director nominees. Each director nominee received affirmative votes from approximately 97 percent or more of the shares voted, excluding abstentions and broker non-votes, as follows (all percentages are rounded):
|Stephen J. Easterbrook||99|
|Timothy P. Flynn||99|
|Sarah J. Friar||99|
|Carla A. Harris||99|
|Thomas W. Horton||99|
|Marissa A. Mayer||99|
|C. Douglas McMillon||99|
|Gregory B. Penner||97|
|Steven S Reinemund||98|
|S. Robson Walton||97|
|Steuart L. Walton||97|
Shareholders voted to approve, on a non-binding, advisory basis, the compensation of Walmart’s named executive officers described in Walmart’s 2019 proxy statement, with approximately 91 percent of the shares present in person or represented by proxy voting in favor of this proposal. The Board of Directors had recommended a vote for this proposal.
Shareholders also ratified the appointment of Ernst & Young LLP as Walmart’s independent accountants, with affirmative votes from approximately 98 percent of the shares that were present in person or represented by proxy at the meeting and entitled to vote.
Each shareholder proposal failed to receive affirmative votes from a majority of the total shares that were represented at the meeting and entitled to vote, and, accordingly, did not pass.
- Request to strengthen the prevention of sexual harassment: Approximately 10 percent of the shares that were present or represented by proxy at the meeting and entitled to vote.
- Request to include hourly associates among the potential director candidates considered by the Nominating and Governance Committee of the Board: Less than 0.01 percent of the shares that were present or represented by proxy at the meeting and entitled to vote.
- Request to adopt a cumulative voting standard in the election of directors: the proposal was not formally presented at the meeting. However, the company received proxies representing approximately 11 percent of the shares in support of the proposal.
The official voting results for each item voted on by shareholders will be disclosed in a report to be filed next week with the Securities and Exchange Commission.
Walmart 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, over 275 million customers and members visit our more than 11,300 stores under 58 banners in 27 countries and eCommerce websites. With fiscal year 2019 revenue of $514.4 billion, Walmart employs over 2.2 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.