Walmart Announces 2021 Annual Shareholders’ Meeting Voting Results
June 02 2021 - 4:59PM
Business Wire
Walmart Inc. (NYSE: WMT) today announced shareholder voting
results for its Annual Shareholders’ Meeting, which was conducted
virtually. Approximately 90.3 percent of all outstanding shares
were represented at the meeting.
During the business meeting, Walmart President and CEO Doug
McMillon provided a business update, sharing, “During the last
fiscal year, we generated record sales of $560 billion in constant
currency. That’s an increase of more than $40 billion in one year.
We have the people and the assets to succeed in the next generation
of retail and we are building for that future. The best way to
create a valuable company is to build for the long term, manage the
short term, and serve all relevant stakeholders. Walmart is doing
that, and we will continue to. We see many opportunities in front
of us.”
McMillon also spoke on the company’s work during the pandemic
and efforts around racial justice, commenting, “The world looks
different than it did a year ago. There is still a lot of
uncertainty, but there are reasons for optimism. To combat the
pandemic, our associates stepped-up and put in place measures that
enabled us to operate safely. This included a 3-tier leave policy,
reduced operating hours, enhanced cleaning, installation of
plexiglass at registers and in our pharmacies, customer metering
and other efforts. We’ve also continued work to improve racial
justice and equity. Our percentage of African American and Black
officers is increasing. Our transparency is up. We’re now
reporting, in greater detail, our diversity metrics twice a year.
As these various efforts were underway, we did not let up on other
areas that are important to us, including the support of US
manufacturing. In September of 2020, we went further on our
commitment to the environment, by announcing our aspiration to
become a regenerative company.”
The company reported that shareholders approved the election of
each of Walmart’s 12 director nominees. Each director nominee
received affirmative votes from approximately 97.5 percent or more
of the shares voted, excluding abstentions and broker non-votes, as
follows (all percentages are rounded):
Director Nominee
For
Cesar Conde
99.5%
Timothy P. Flynn
99.4%
Sarah J. Friar
97.5%
Carla A. Harris
98.6%
Thomas W. Horton
98.7%
Marissa A. Mayer
99.1%
C. Douglas McMillon
99.5%
Gregory B. Penner
98.3%
Steven S Reinemund
97.9%
Randall L. Stephenson
99.0%
S. Robson Walton
99.2%
Steuart L. Walton
99.4%
Shareholders voted to approve, on a non-binding, advisory basis,
the compensation of Walmart’s named executive officers described in
Walmart’s 2021 proxy statement, with approximately 95.0 percent of
the participating shares 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 98.4 percent of the participating and entitled
shares. The Board of Directors had recommended a vote for this
proposal.
The Board of Directors had recommended a vote against each of
the five shareholder proposals, and each proposal failed to receive
affirmative votes from a majority of the total participating and
entitled shares that were represented at the meeting and,
accordingly, did not pass.
- Report on Refrigerants Released from Operations: Received
approximately 5.5 percent of the participating shares that were
entitled to vote.
- Report on Lobbying Disclosures: Received approximately 22.1
percent of the participating shares that were entitled to
vote.
- Report on Alignment of Racial Justice Goals and Starting Wages:
Received approximately 12.5 percent of the participating shares
that were entitled to vote.
- Create a Pandemic Workforce Advisory Council: Received
approximately 11.3 percent of the participating shares that were
entitled to vote.
- Report on Company’s Involvement with Business Roundtable
“Statement on the Purpose of a Corporation”: Received approximately
2.3 percent of the participating shares that were entitled to
vote.
The official voting results for each item voted on by
shareholders will be disclosed in a report to be filed Friday with
the Securities and Exchange Commission.
About Walmart
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, approximately
220 million customers and members visit approximately 10,500 stores
and clubs under 48 banners in 24 countries and eCommerce websites.
With fiscal year 2021 revenue of $559 billion, Walmart employs 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
https://corporate.walmart.com, on Facebook at
https://facebook.com/walmart and on Twitter at
https://twitter.com/walmart.
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