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Wal-Mart to report how compliance targets impacted executive pay: WSJ [April 23, 2014] (Reuters) — Wal-Mart Stores Inc <WMT.N> is set to report as soon as Wednesday on how its executives performed on their goals to overhaul compliance operations and how that affected their pay, the Wall Street Journal reported. |
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The company's board will issue a securities
filing in the coming days that will detail how well executives
performed on its compliance goals, such as enhancing its global
anti-corruption program, the report cited the retailer's chief
compliance officer, Jay Jorgensen, as saying. A representative for Wal-Mart could not be immediately reached
for comment outside of regular U.S. business hours. An assessment of compliance objectives will now be part of the
company's regular corporate governance, the Journal quoted
Jorgensen as saying at the Dow Jones Global Compliance Symposium
in Washington on Tuesday. (http://link.reuters.com/vyx68v) The world's largest retailer said in its annual proxy statement
that cash incentives for its top executives in 2014 would be
partly based on meeting certain compliance objectives. Wal-Mart, in November 2011, began its own probe into matters
including alleged violations of the U.S. Foreign Corrupt
Practices Act, and whether such matters were appropriately
handled by the company. (Reporting by Sampad Patnaik in Bangalore; editing by Lisa Shumaker) [© 2014 Thomson Reuters. All rights reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
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