In the Margins

Wal-Mart shrinks board to 12

April 21, 2016

By Reuters

Wal-Mart Stores Inc. said Wednesday it will decrease the size of its board by three members to 12, a move that brings it closer to U.S corporate norms. The company hopes the change, which will take place after Wal-Mart's annual shareholders' meeting on June 3, will allow it to respond more nimbly to rapid market changes. The revamp includes the retirement of Jim Walton, 67, the youngest son of late Wal-Mart founder Sam Walton, after 11 years on the board. Read the original story from Reuters.