Walmart shareholders voted against seven shareholder proposals at the company's meeting on Wednesday, June 4, 2024.Siblings Alice, Jim, and Rob Walton control 46% of the company's 8 billion shares.The formal shareholders meeting took place at 10:30 a.m. on Wednesday, June 5, over a conference call.Shareholders first voted on the company board. Rob Walton, a son of Sam Walton, is retiring from the board. The proxy statement recommended Chipotle CEO Brian Niccol to replace him.They voted on a few other issues before taking up the shareholders' proposals. The board opposed all seven proposals. The reasons for and against each of them are laid out in Walmart's 2024 proxy statement.Gestation Crates for PigsRESOLVED: Shareholders ask Walmart to publish measurable, timebound targets for transitioning away from gestation crates in its pork supply chain and regularly report its progress meeting them.The statement for the proposal states it is inhumane to keep pregnant sows in solitary crates too small to let them turn around. The pigs are kept there for weeks or even months.It says that companies including Kroger, McDonald's Conagra and others have set measurable targets for its suppliers to keep pigs in those crates less often. It asks Walmart to also set targets.The board disagreed, saying the gestation crates also have advantages. They can protect sows and piglets from hazards and disease. Walmart already expects its pork suppliers to treat animals humanely.Racial Equality AuditRESOLVED: Shareholders request Walmart Inc. (“Walmart” or the “Company”) conduct a third-party, independent racial equity audit analyzing Walmart’s adverse impacts on Black, Indigenous and People of Color (BIPOC) communities, and to provide recommendations for improving the company’s racial equity impact. Input from employees, customers, and racial justice, labor, and civil rights organizations should be considered in determining specific matters to be analyzed. A report on the audit, prepared at reasonable cost and omitting confidential and proprietary information, should be published on Walmart’s website.The statement in favor of the proposal argues that an audit would help Walmart identify and remedy any racial inequalities in the company.It states that 49% of Walmart employees in the U.S. are people of color, while 28% of its US officers and 18% of its board of directors are.The board agreed it's important to help workers feel they belong at the company. It pointed to a number of programs across the company and said Walmart has pay equity between white employees and people of color.Human Rights Impact StatementRESOLVED, Shareholders request that Walmart publish Human Rights Impact Assessment(s) (HRIAs), at reasonable cost and omitting confidential information, examining the actual and potential impacts of one or more high-risk 1 commodity in Walmart’s supply chain or facility in its operations. A report on the assessment should be published on the company’s website.The statement in favor of the proposal cited news reports of poor pay and working conditions at Walmart and its suppliers. Those included investigations into child migrant labor, forced labor in Cambodia, and trafficked labor on fishing ships.The board argued the resolution is unnecessary because Walmart is already working on Human Rights Impact Assessments on its higher-risk supply chains.Better Pay For WorkersBE IT RESOLVED, shareholders ask that the board and management exercise their discretion to establish Company wage policies that are consistent with fiduciary duties and reasonably designed to provide workers with the minimum earnings necessary to meet a family’s basic needs, because Company compensation practices that fail to provide a living wage are harmful to the economy and therefore to the returns of diversified shareholders.The proposal praised recent wage increases, but said $14 an hour is still not enough for a family to live on. The board disagreed, saying its pay is competitive and that it offers benefits for employees such as schedules that are published in advance, paid time off, parental leave, the ability to trade shifts, and a stock purchase program.Viewpoint DiscriminationResolved: Shareholders request the Board of Directors conduct an evaluation and issue a civil rights and non-discrimination report within the next year, at reasonable cost and excluding proprietary information and disclosure of anything that would constitute an admission of pending litigation, evaluating how Walmart's policies and practices impact employees and prospective employees based on their based on their religion {including religious views) or political views, and the risks those impacts present to the Company's business.The proposal stated employees aren't able to express controversial political or religious views without fear of punishment, even if they're expressing them away from work.It called on Walmart to create a report evaluating its policies.The board stated Walmart is focused on creating a workplace where people feel like they belong and doesn't discriminate based on protected status.Workplace Safety & ViolenceRESOLVED: Shareholders urge Walmart Inc. (“Walmart” or the “Company”) to conduct a third-party, independent review of the impact of Company policies and practices on workplace safety and violence, including gun violence. A report on the review, prepared at reasonable cost and omitting proprietary information, should be published on Walmart’s website. At company discretion, the proponents recommend the audit and report include: (1) Evaluation of management and business practices that contribute to an unsafe or violent work environment, including staffing capacity and the introduction of new technologies; and (2) Recommendations that will help Walmart create safer work environments and prevent workplace violence.The proposal argued Walmart employees have concerns about workplace safety that range from unsafely stacked products to gun violence from customers and co-workers. It asked the company to audit workplace safety. The board said the audit is unnecessary because Walmart has a safety record as good as or better than other American retailers.Corporate AdvocacyResolved: Shareholders request that the Board of Directors create a board committee on corporate financial sustainability to oversee and review the impact of the Company's policy positions, advocacy, partnerships and charitable giving on social and political matters, and the effect of those actions on the Company's financial sustainability. The Company should issue a public report on the committee's findings by the end of 2024.The proposal argued Walmart's donations to political groups alienate consumers and cost the company money. It cites specifically the support of LGBTQ groups and the Black Lives Matter movement.It called for a new committee to oversee its contributions to advocacy groups.The board opposed the proposal, saying it already has oversight groups and regular reports on its charitable giving.
Walmart shareholders voted against seven shareholder proposals at the company's meeting on Wednesday, June 4, 2024.
Siblings Alice, Jim, and Rob Walton control 46% of the company's 8 billion shares.
The formal shareholders meeting took place at 10:30 a.m. on Wednesday, June 5, over a conference call.
Shareholders first voted on the company board. Rob Walton, a son of Sam Walton, is retiring from the board. The proxy statement recommended Chipotle CEO Brian Niccol to replace him.
They voted on a few other issues before taking up the shareholders' proposals.
The board opposed all seven proposals. The reasons for and against each of them are laid out in Walmart's 2024 proxy statement.
Gestation Crates for Pigs
RESOLVED: Shareholders ask Walmart to publish measurable, timebound targets for transitioning away from gestation crates in its pork supply chain and regularly report its progress meeting them.
The statement for the proposal states it is inhumane to keep pregnant sows in solitary crates too small to let them turn around. The pigs are kept there for weeks or even months.
It says that companies including Kroger, McDonald's Conagra and others have set measurable targets for its suppliers to keep pigs in those crates less often. It asks Walmart to also set targets.
The board disagreed, saying the gestation crates also have advantages. They can protect sows and piglets from hazards and disease. Walmart already expects its pork suppliers to treat animals humanely.
Racial Equality Audit
RESOLVED: Shareholders request Walmart Inc. (“Walmart” or the “Company”) conduct a third-party, independent racial equity audit analyzing Walmart’s adverse impacts on Black, Indigenous and People of Color (BIPOC) communities, and to provide recommendations for improving the company’s racial equity impact. Input from employees, customers, and racial justice, labor, and civil rights organizations should be considered in determining specific matters to be analyzed. A report on the audit, prepared at reasonable cost and omitting confidential and proprietary information, should be published on Walmart’s website.
The statement in favor of the proposal argues that an audit would help Walmart identify and remedy any racial inequalities in the company.
It states that 49% of Walmart employees in the U.S. are people of color, while 28% of its US officers and 18% of its board of directors are.
The board agreed it's important to help workers feel they belong at the company. It pointed to a number of programs across the company and said Walmart has pay equity between white employees and people of color.
Human Rights Impact Statement
RESOLVED, Shareholders request that Walmart publish Human Rights Impact Assessment(s) (HRIAs), at reasonable cost and omitting confidential information, examining the actual and potential impacts of one or more high-risk 1 commodity in Walmart’s supply chain or facility in its operations. A report on the assessment should be published on the company’s website.
The statement in favor of the proposal cited news reports of poor pay and working conditions at Walmart and its suppliers. Those included investigations into child migrant labor, forced labor in Cambodia, and trafficked labor on fishing ships.
The board argued the resolution is unnecessary because Walmart is already working on Human Rights Impact Assessments on its higher-risk supply chains.
Better Pay For Workers
BE IT RESOLVED, shareholders ask that the board and management exercise their discretion to establish Company wage policies that are consistent with fiduciary duties and reasonably designed to provide workers with the minimum earnings necessary to meet a family’s basic needs, because Company compensation practices that fail to provide a living wage are harmful to the economy and therefore to the returns of diversified shareholders.
The proposal praised recent wage increases, but said $14 an hour is still not enough for a family to live on.
The board disagreed, saying its pay is competitive and that it offers benefits for employees such as schedules that are published in advance, paid time off, parental leave, the ability to trade shifts, and a stock purchase program.
Viewpoint Discrimination
Resolved: Shareholders request the Board of Directors conduct an evaluation and issue a civil rights and non-discrimination report within the next year, at reasonable cost and excluding proprietary information and disclosure of anything that would constitute an admission of pending litigation, evaluating how Walmart's policies and practices impact employees and prospective employees based on their based on their religion {including religious views) or political views, and the risks those impacts present to the Company's business.
The proposal stated employees aren't able to express controversial political or religious views without fear of punishment, even if they're expressing them away from work.
It called on Walmart to create a report evaluating its policies.
The board stated Walmart is focused on creating a workplace where people feel like they belong and doesn't discriminate based on protected status.
Workplace Safety & Violence
RESOLVED: Shareholders urge Walmart Inc. (“Walmart” or the “Company”) to conduct a third-party, independent review of the impact of Company policies and practices on workplace safety and violence, including gun violence. A report on the review, prepared at reasonable cost and omitting proprietary information, should be published on Walmart’s website. At company discretion, the proponents recommend the audit and report include: (1) Evaluation of management and business practices that contribute to an unsafe or violent work environment, including staffing capacity and the introduction of new technologies; and (2) Recommendations that will help Walmart create safer work environments and prevent workplace violence.
The proposal argued Walmart employees have concerns about workplace safety that range from unsafely stacked products to gun violence from customers and co-workers. It asked the company to audit workplace safety.
The board said the audit is unnecessary because Walmart has a safety record as good as or better than other American retailers.
Corporate Advocacy
Resolved: Shareholders request that the Board of Directors create a board committee on corporate financial sustainability to oversee and review the impact of the Company's policy positions, advocacy, partnerships and charitable giving on social and political matters, and the effect of those actions on the Company's financial sustainability. The Company should issue a public report on the committee's findings by the end of 2024.
The proposal argued Walmart's donations to political groups alienate consumers and cost the company money. It cites specifically the support of LGBTQ groups and the Black Lives Matter movement.
It called for a new committee to oversee its contributions to advocacy groups.
The board opposed the proposal, saying it already has oversight groups and regular reports on its charitable giving.
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