Walmart Annual Shareholders’ Meeting discusses minimum wage increase, record sales

Northwest Arkansas News

BENTONVILLE, Ark. (KNWA/KFTA) — Walmart held its Annual Shareholders’ meeting virtually on June 2.

The Shareholders’ Meeting was conducted by virtual meeting only. The meeting focused on shareholder voting on formal business and proxy proposals. Shareholders voted electronically, online, by mail or by phone prior to the formal business 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.”

In the last year, Walmart has announced two minimum wage increases, which was another key focus of the presentation and Walmart’s continued finical support of its associates, along with their overall well-being.

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.

Voting numbers are shown below:

Cesar Conde99.5%
Timothy P. Flynn99.4%
Sarah J. Friar97.5%
Carla A. Harris98.6%
Thomas W. Horton98.7%
Marissa A. Mayer99.1%
C. Douglas McMillon99.5%
Gregory B. Penner98.3%
Steven S Reinemund97.9%
Randall L. Stephenson99.0%
S. Robson Walton99.2%
Steuart L. Walton99.4%
Courtesy of Walmart Newsroom

As a result of the pandemic, the company will also not be hosting its customary Associate Celebration at Bud Walton Arena in Fayetteville.

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