Walmart Releases 2024 Annual Report and Proxy Statement

Walmart Inc. (NYSE: WMT) issued its 2024 Annual Report and filed its Proxy Statement today in preparation for the company’s Annual Shareholders’ Meeting on Wednesday, June 5, 2024.

2024 Walmart Proxy Statement Highlights

• Rob Walton announcing he will retire from the Board at the conclusion of his current term on June 5, 2024. Mr. Walton joined Walmart in 1969 and before that worked alongside his father, Sam, in his 5&10 store. He served more than 40 years on the Walmart Board and helped shape some of the most important moments in Walmart history.
  
  “Walmart is the world's leading omni-channel retailer. That's a credit to our team today and to those who, over decades, helped to build and shape our company. One of those incredible leaders is Rob Walton, my father-in-law, who recently shared his decision not to seek re-election to our Board of Directors.
  
  “His leadership has been critical as we've grown our business over so many years. There's no doubt Sam would be very proud. On behalf of our associates and the Board, I'd like to thank him for his unparalleled and amazing service.”
  
  - Greg Penner, Chairman, Walmart Board of Directors
  

• A message from Chairman of the Board, Greg Penner, emphasizing the strength of the Walmart business, the momentum of the company and its clear path forward.
  
  “I’m pleased to say that our business is strong […] We generated more than $35 billion in operating cash flow, improved returns, and announced a 9 percent increase in the dividend for the current fiscal year, the largest increase in more than a decade.
  
  “Walmart is a people-led, tech-powered omni-channel retailer dedicated to helping people save money so they can live better. This is the foundation on which we can deliver results like these, and it starts with the incredible work of our associates.”
  
  - Greg Penner, Chairman, Walmart Board of Directors
  

• Proxy materials seeking shareholders’ votes on 11 director nominees, two other company proposals, and seven shareholder proposals. For the director nominees, the Board has nominated Brian Niccol, the Chairman and CEO of Chipotle Mexican Grill, Inc., and (except for Rob Walton) the existing 10 Board members for election at the 2024 Annual Shareholders’ Meeting. If elected, Brian will be the fifth new independent director Walmart has onboarded since 2017.