A Corporate Governance Expert Weighs In

From the blog Findlay on Governance
Does Wal-Mart really have a board? ... With four insiders (an unusually high number among major publicly traded companies, to say the least) and directors having met formally on only 4 occasions in 2006 (another 3 meetings were phoned in), Wal-Mart’s board appears to be little more than a ratifying body for the controlling shareholder. ... Wal-Mart’s problems will persist as long as its thinking is conducted through the narrow and myopic prism its board structure symbolizes and until its corporate governance —and its ethical culture— are dragged into the 21st century.
It seems the influence of the Waltons is even greater than I imagined.

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