April 22 Wal-Mart Stores Inc is set to
report as soon as Wednesday on how its executives performed on
their goals to overhaul compliance operations and how that
affected their pay, the Wall Street Journal reported.
The company's board will issue a securities filing in the
coming days that will detail how well executives performed on
its compliance goals, such as enhancing its global
anti-corruption program, the report cited the retailer's chief
compliance officer, Jay Jorgensen, as saying.
A representative for Wal-Mart could not be immediately
reached for comment outside of regular U.S. business hours.
An assessment of compliance objectives will now be part of
the company's regular corporate governance, the Journal quoted
Jorgensen as saying at the Dow Jones Global Compliance Symposium
in Washington on Tuesday. (link.reuters.com/vyx68v)
The world's largest retailer said in its annual proxy
statement that cash incentives for its top executives in 2014
would be partly based on meeting certain compliance objectives.
Wal-Mart, in November 2011, began its own probe into matters
including alleged violations of the U.S. Foreign Corrupt
Practices Act, and whether such matters were appropriately
handled by the company.
(Reporting by Sampad Patnaik in Bangalore; Editing by Lisa