OPERATIONS

Report: Mexico to open probe into Wal-Mart allegations

BY Staff Writer

New York — A Wednesday report by Reuters said that the Mexican federal comptroller’s office has given the go-ahead to open an investigation into allegations that Wal-Mart Mexico bribed officials to expand its business in the country.

"If wrongdoing attributable to federal public officials is detected, the federal government will take action," the office said.

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Wal-Mart’s Castro-Wright resigns MetLife board to focus on ‘protecting good name’

BY Katherine Boccaccio

Bentonville, Ark. — Amidst allegations of involvement in a foreign bribery scandal, Wal-Mart Stores vice chairman Eduardo Castro-Wright has vacated his seat on the board of life insurer MetLife, according to a Tuesday announcement by Wal-Mart.

In a letter to MetLife CEO Steve Kandarian, Castro-Wright said that the recent events at Wal-Mart would require his “immediate and personal attention. Accordingly, I now must focus my energy in spending personal time with my family and in protecting my good name and business reputation.”

A copy of the letter was filed Tuesday with security regulators.

Castro-Wright was named in the New York Times report last weekend as a key figure in the alleged foreign bribery scandal at Wal-Mart.

He has been a member of the MetLife board since March 2008 and his term was not due to expire until 2014.


Read more about the alleged Wal-Mart bribery scandal.

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Wal-Mart answers with global anti-bribery watchdog appointment

BY Katherine Boccaccio

Bentonville, Ark. — As part of its answer on Tuesday to a New York Times article regarding compliance with the U.S. Foreign Corrupt Practices Act, Wal-Mart Stores VP corporate communications David Tovar announced that the retailer had appointed a global officer to oversee compliance.

The move is just one of the steps that Tovar outlined toward managing issues related to the 1970s law that forbids bribing foreign officials.

Wal-Mart has not yet identified the person who will fill the slot, or when it will be activated.


Read more about the alleged Wal-Mart bribery scandal.

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