Statement of Jim McRitchie, Wal-Mart Shareholder, on Announcement that Bangladeshi Sweatshop Critic Kalpona Akter Will Present at Wal-Mart’s Annual Shareholder’s Meeting
Jim McRitchie has proposed a key measure to enhance Wal-Mart accountability to shareholders. Mr. McRitchie’s Proposal No. 5 would allow Wal-Mart shareholders who own 10% of shares to call for a special meeting of shareholders on key issues of corporate governance.
Special meetings allow shareowners to vote on important matters that can arise between annual meetings. Shareowner input on the timing of shareowner meetings is especially important when events unfold quickly and issues may become moot by the next annual meeting. This proposal topic won more than 60% support at CVS, Sprint and Safeway.
Wal-Mart’s annual shareholder meeting will be live web-cast Friday, June 7 at 7:00 a.m. CT.
“I am pleased to announce that Kalpona Akter will present my Proposal No. 5 Friday at Wal-Mart’s annual shareholder meeting in Bentonville, Arkansas.
Proposal No. 5 is important to democracy for Wal-Mart shareholders. Ms. Akter represents Bangladeshi garment workers and her journey to Arkansas is particularly important because she will speak to issues Wal-Mart shareholders should have the right to discuss.”
Kalpona Akter, a former garment worker from Bangladesh, is the executive director of the Bangladesh Center for Worker Solidarity. She has been an outspoken critic of sweatshop conditions in Bangladesh where Wal-Mart is the second largest producer.