Walmart Releases 2024 Annual Report and Proxy Statement
2024
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Rob Walton announcing he will retire from the Board at the conclusion of his current term onJune 5, 2024 .Mr. Walton joinedWalmart in 1969 and before that worked alongside his father, Sam, in his 5&10 store. He served more than 40 years on theWalmart Board and helped shape some of the most important moments inWalmart history.
“Walmart is the world's leading omni-channel retailer. That's a credit to our team today and to those who, over decades, helped to build and shape our company. One of those incredible leaders isRob Walton , my father-in-law, who recently shared his decision not to seek re-election to our Board of Directors.
“His leadership has been critical as we've grown our business over so many years. There's no doubt Sam would be very proud. On behalf of our associates and the Board, I'd like to thank him for his unparalleled and amazing service.”
-Greg Penner , Chairman,Walmart Board of Directors
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A message from Chairman of the Board,
Greg Penner , emphasizing the strength of theWalmart business, the momentum of the company and its clear path forward.
“I’m pleased to say that our business is strong […] We generated more than$35 billion in operating cash flow, improved returns, and announced a 9 percent increase in the dividend for the current fiscal year, the largest increase in more than a decade.
“Walmart is a people-led, tech-powered omni-channel retailer dedicated to helping people save money so they can live better. This is the foundation on which we can deliver results like these, and it starts with the incredible work of our associates.”
-Greg Penner , Chairman,Walmart Board of Directors
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Proxy materials seeking shareholders’ votes on 11 director nominees, two other company proposals, and seven shareholder proposals. For the director nominees, the Board has nominated
Brian Niccol , the Chairman and CEO of Chipotle Mexican Grill, Inc., and (except forRob Walton ) the existing 10 Board members for election at the 2024 Annual Shareholders’ Meeting. If elected, Brian will be the fifth new independent directorWalmart has onboarded since 2017.
“As our business continues to evolve to serve our customers, it is imperative that our Board evolves as well […] Brian is a dynamic leader with a passion for excellence. I am confident that his experience in retail, marketing and brand management, and engaging with associates and customers will be a strategic asset to your Board.”
-Tom Horton , Lead Independent Director,Walmart Board of Directors
2024 Annual Report Highlights
In his annual letter to shareholders and associates,
“We’ve made important investments in our associates that include, and go beyond, wage increases […] We continue to invest in healthcare and other benefits, including educational opportunities […] We’ve committed to invest
McMillon went on to note the resources
2024 Annual Shareholders’ Meeting and Proposal Voting
The company’s 2024 Annual Shareholders’ Meeting will be held in a virtual meeting format only. Shareholders of record as of
Shareholders who held shares as of the close of business on the record date of
- Online at www.proxyvote.com;
- Calling 1-800-690-6903;
- Mailing a completed proxy card or voting instruction form; or
- On their mobile device by scanning the QR code on the proxy card, notice of internet availability, or voting instruction form.
Shareholders may also vote while logged in and participating in the 2024 Annual Shareholders’ Meeting at www.virtualshareholdermeeting.com/WMT2024.
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