We’re energized and ready to get out the word about voting for proposal #6 and against the re-election of current directors who have lost their way.
Los Angeles, Calif. (PRWEB) May 14, 2012
Hourly Walmart associates who also hold shares in the company, including four who filed a resolution (proposal #6) to create more transparency and accountability on executive pay, are reaching out to fellow Walmart shareholders to urge them to vote FOR the proposal. They are also encouraging other shareholders to vote against several current members of the Board of Directors up for re-election, including CEO Mike Duke and board chairman Rob Walton.
There are hundreds of thousands of shareholders who are either current or former Walmart retail associates. Through the Organization United for Respect at Walmart (OUR Walmart), these associates are spreading the word with an unprecedented campaign-style GOTV effort. For the first time ever, Walmart associates will contact other associate-shareholders through direct mail, phone banking and social media about voting their proxy ballots.
Across the country, local “proxy parties” are being planned for associate shareholders to come together and vote in the weeks leading up to the shareholder meeting June 1st. At the parties, associate-shareholders will discuss their concerns over the consistent underperformance of Walmart stock, executive performance incentives, and, in the wake of recent allegations of widespread bribery and cover-up, whether the current board of directors is ethically fit enough to lead the company.
“When I talk to my co-workers and fellow shareholders, everyone agrees we need to hold Walmart’s executives more accountable,” said Carlton Smith, a long-time Walmart associate and shareholder in southern California. “We’re energized and ready to get out the word about voting for proposal #6 and against the re-election of current directors who have lost their way. Now is the time for Walmart and the Walton family to recognize the importance of new leadership in order to get the company back on track.”
The effort comes on the heels of an announcement by the New York Pension fund that it intends to vote against five current members of the Board of Directors, including Walton heir Rob Walton. Support for the resignation of CEO Mike Duke and Board Chair Rob Walton continues to grow with a petition from Walmart associate Venanzi Luna adding 10,000 signatures in only a week.
Proposal #6 was introduced by Mary Tifft, Jackie Goebel, Girshriela Green and Carlton Smith, all of whom are current Walmart associates, with collectively over 60 years of service with the company.
Important disclosure: The UFCW and OUR Walmart have provided technical assistance to the four shareholder sponsors of Proposal #6, and we continue to support their efforts to campaign on its behalf.