Wal-Mart Stores (WMT) is one of the stocks in my portfolio. Their annual meeting is coming up June 2. ProxyDemocracy.org had four funds voting when I looked yesterday.
Checking the Summary Compensation Table, it appears CEO Michael T. Duke was paid more than $17 million. Using the United States Proxy Exchange (USPX) released draft guidelines, I voted against most pay packages where the company paid more than the median $9 million last year, including this one. I also voted against compensation committee members Wolf, Reinemund, and Daft.
I voted for a pay advisory every year and in favor of most of the shareowner proposals, including:
- Amend EEO Policy to Prohibit Discrimination based on Gender Identity
- Report on Political Contributions
- Reduce Requirements to Call Special Meetings
- Prepare Sustainability Report
I think Wal-Mart, of late, has been doing a good job relative to climate change. Therefore, I voted against the proposal seeking a business report on that subject.
See also, Wal-Mart Is Being Pressed to Disclose How Global Suppliers Treat Workers, NYTimes, 5/30/2011.
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