New York City Pension Funds urges shareholders to vote against Wal-Mart directors

New York -- New York City Pension Funds is urging shareholders to vote against the re-election of Wal-Mart Stores CEO Mike Duke and four other board members out of concerns about the chain’s bribery investigation in Mexico, the Associated Press reported.

The pension group owns 5.6 million shares of Wal-Mart, which has more than 3.4 billion shares outstanding.

In a letter to shareholders on Wednesday, the fund says shareholders should vote against Duke, H. Lee Scott Jr., Arne M. Sorenson, S. Robson Walton and Christopher J. Williams during the company's annual meeting on June 1, according to the report.

Login or Register to post a comment.