Walmart chairman Robson Walton
2 June 2012. Speaking to shareholders at their annual general meeting, Walmart chairman Robson Walton, said that the world’s largest retailer would not tolerate corrupt acts, in the wake of a scandal about bribes the company allegedly paid in Mexico.
“We are taking allegations related to compliance with the Foreign Corrupt Practices Act (FCPA) very seriously,” Walton said at the meeting in Fayetteville, Arkansas.
“Let me be clear. Acting with integrity is not a negotiable part of this business,” he said.
“We will not tolerate violations of the FCPA or ethical wrongdoings of any kind.”
Walton, son of the retail giant’s legendary founder Sam Walton, said the company’s independent directors and an outside counsel were also investigating the matter.
“We are also cooperating with the Department of Justice and the SEC to find out exactly what happened,” he said.
In a separate speech Wal-Mart chief executive Mike Duke stressed that Walmart “is committed to compliance and integrity everywhere we operate.”
“I want to personally assure you, we’re doing everything we can to get to the bottom of this matter. We will take appropriate action when the investigation is complete.”