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Wal-Mart says former CEO Scott to retire from board [April 24, 2014] (Reuters) — Wal-Mart Stores Inc <WMT.N> said former Chief Executive Officer Lee Scott and board member Chris Williams will not stand for re-election to the retailer's board. |
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Scott will complete his service as director at
the company's annual shareholders' meeting on June 6, "in line
with Walmart`s historical practice for its prior CEOs' Board
service," the company said in a statement on Wednesday. Scott had joined Wal-Mart in 1979 and served as its chief
executive officer from 2000 till 2009. Williams, chief of The Williams Capital Group, is stepping down
from the board after 10 years, in accordance with the company's
corporate governance guidelines, Wal-Mart said. Following the retirements, the company's board will consist of
14 directors. (Reporting by Sampad Patnaik in Bangalore; editing by Mohammad Zargham) [© 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 This material may not be published,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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