Wal-Mart Stores Inc.’s (NYSE: WMT) chief administrative officer has left the retailer suddenly. Tom Mars was general counsel during a period (2002 to 2009) when the retailer allegedly bribed Mexican authorities to give preferential treatment on the locations and building of stores.
According to The Wall Street Journal:
In a 2005 email memo to Chief Executive Michael Duke, Mr. Mars wrote, “The attached memorandum summarizes an interview conducted with a former WalMex in-house lawyer. The lawyer asserts in some detail the alleged corruption by various WalMex associates, including senior people. You’ll want to read this. I’m available to discuss next steps. PS: Welcome to Wal-Mart International.”
Now the pressure to resign moves to Duke.
Walmart shares are thus far inactive in premarket trading, but closed at $71.66 yesterday. The 52-week range is $57.18 to $77.60.
In 20 Years, I Haven’t Seen A Cash Back Card This Good
After two decades of reviewing financial products I haven’t seen anything like this. Credit card companies are at war, handing out free rewards and benefits to win the best customers.
A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges.
Our top pick today pays up to 5% cash back, a $200 bonus on top, and $0 annual fee. Click here to apply before they stop offering rewards this generous.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.