Walmart Releases 2020 Annual Report and Proxy Statement
April 23 2020 - 4:55PM
Business Wire
Walmart Inc. (NYSE: WMT) today issued its 2020 Annual Report and
filed its Proxy Statement in preparation for the company’s upcoming
virtual Annual Shareholders’ Meeting on Wednesday, June 3, 2020.
Shareholders will be able to attend the meeting online. There will
be no physical location for the meeting and the Company is not
hosting its usual Associate Celebration event to ensure everyone’s
safety given the current state of the COVID-19 pandemic.
Annual Report Highlights
The 2020 Annual Report illustrates the extraordinary efforts
across the company in light of the current COVID-19 pandemic and
highlights Walmart’s financial strength and positioning for ongoing
success.
In his annual letter to shareholders, associates and customers,
Walmart President and Chief Executive Officer Doug McMillon
recognized the work of associates.
“Our associates are dedicated, resilient, creative and
hard-working, and I'm honored to serve them. As I've visited our
stores, clubs and distribution centers, I've heard them articulate
and seen them demonstrate a 'we've got this' attitude.
“Times like these can be challenging financially, so we've
supported them with a special cash bonus for all U.S. hourly
associates, and we accelerated payment of the first-quarter cash
bonus. The physical, financial and emotional wellbeing of our
associates are priorities for us."
McMillon went on to highlight support for the local communities
and customers Walmart serves and actions the company has taken to
benefit stakeholders.
“Every day I hear directly from customers the deep appreciation
they feel for the work our local heroes are doing to keep their
communities going. People trust and know Walmart as a source of
affordable products that help people live better, as well as being
a major employer. We also understand the important role we play in
the fabric of communities. To help meet the critical needs
resulting from the pandemic, Walmart and the Walmart Foundation
have committed $25 million to support organizations on the
frontlines responding to the outbreak.
“The work we’ve been doing over the last several years has
positioned us to serve customers even more effectively through an
omni-channel approach… We’re in a strong financial position with
substantial cash flows and a diversified asset base. We have the
resources to grow the business and to make key investments in areas
such as technology and eCommerce, even during times of
uncertainty.”
2020 Annual Shareholders’ Meeting, Proxy Statement and
Proposal Voting
As previously announced, in light of the COVID-19 outbreak and
for the safety of all of our shareholders, associates, and other
members of the community, our 2020 Annual Shareholders’ Meeting
will be held in a virtual meeting format only with no physical
location. The meeting will be held on Wednesday, June 3, 2020 at
10:30 a.m. CDT.
Shareholders who held Shares as of the close of business on the
record date of April 9, 2020 will be able to vote their shares
before the meeting online at www.proxyvote.com, by calling
1-800-690-6903, by mailing a completed proxy card or by mobile
device by scanning the QR code on the proxy card or notice of
internet availability. Shareholders may also vote online during the
virtual meeting at www.virtualshareholdermeeting.com/WMT2020.
This year’s Proxy materials seek shareholders’ votes on 11
director nominees, three company proposals and four shareholder
proposals. The public will also be able to listen to the Annual
Shareholders’ Meeting, without the option to vote, through a link
on the company’s website. The 2020 Proxy Statement can be read
online.
About Walmart
Walmart Inc. (NYSE: WMT) helps people around the world save
money and live better - anytime and anywhere - in retail stores,
online, and through their mobile devices. Each week, over 265
million customers and members visit approximately 11,500 stores
under 56 banners in 27 countries and eCommerce websites. With
fiscal year 2020 revenue of $524 billion, Walmart employs over 2.2
million associates worldwide. Walmart continues to be a leader in
sustainability, corporate philanthropy and employment opportunity.
Additional information about Walmart can be found by visiting
http://corporate.walmart.com, on Facebook at
http://facebook.com/walmart and on Twitter at
http://twitter.com/walmart.
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