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Corporate Governance at Wal-Mart - Case Study Example

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Wal-Mart is one of the most successful chains of super stores, operating thousands of its outlets in several countries of the world. Founded by Sam Watson in 1962, it has now become the world's fourth largest utility employer and the largest toy-seller and grocery retailer in the U.S…
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Corporate Governance at Wal-Mart
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Download file to see previous pages Wal-Mart has a total of 15 directors on its board. S. Robson Walton, the eldest son of founder Sam Walton, serves as Chairman of the Board, and H. Lee Scott, the Chief Executive Officer, serves on the board as well. Other members of the board include Aida Alvarez, James Breyer, M. Michele Burns, James I. Cash, Jr., Roger C. Corbett, Douglas N. Daft, David D. Glass, Roland A. Hernandez, Allen I. Questrom, Jack C. Shewmaker, Jim C. Walton, Christopher J. Williams, and Linda S. Wolf.
The members of the Board of directors come from a much diversified background. Belonging to different fields and business sectors, they have gained several skills and aptitude. Some of them are from countries other than U.S.A. They all possess ample of experience, knowledge and due to several years of service, they have got several connections. All of this adds up to their profile as plus points which makes them worth the job. Members such as David and Shewmaker have been serving since 1977-78 while other members that are currently on the board joined between the year 2003 and 2006. Mr. Allen joined in June 2007.
The board members are responsible for making managing and controlling the committees for specific purposes. These committees are in-charge of several operations of the organization respectively. Their job includes controlling and managing the finances, operations and other business functions of Wal-Mart. They are actually there to assist the Board of Directors in the strategic decision making process and overall management of Wal-Mart. The members of the respective committees' obligations include;
To possess full information about the financial details of the company.
To actively review the equity status of the company and recommend changes to have a legitimate and profitable balance of finances.
Make suggestions to the board regarding the financial and global policies, the equity structure, the acquisitions and other matters.
Perform an analysis of the financial position of the company and recommend attainable goals respectively.
Regular review of the major projects.
Constant relationship management with its financial partners such as banks and other financial institutions.
Making suggestions regarding the financial statements, the dividends and the company's budgets.
The committee therefore serves as an advisory body and acts as a representative of the board in the process of strategic decision making and its successful implementation by controlling the overall operations of the company.
The top management group of the company includes the board of directors. Apart from them others senior officers along with their respective designations are;
1. Eduardo Castro-Wright: Executive Vice President and President and Chief Executive Officer, Wal-Mart Stores Division
2. M. Susan Chambers: Executive Vice President of People Division
3. Patricia A. Curran: Executive Vice President, People, Wal-Mart Stores Division
4. Leslie A. Dach: Executive Vice President, Corporate Affairs and Government Relations
5. Linda M. Dillman: Executive Vice President, Risk Management, Benefits and Sustainability
6. Michael T. Duke: Vice Chairman, International Division
7. Johnnie C. Dobbs: Executive Vice President, Logistics and Supply Chain
8. John E. Fleming: Executive Vice P ...Download file to see next pagesRead More
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