Wal-Mart Remakes Compliance Department Amid Bribery Investigation

by admin on October 24, 2012

Wal-Mart Stores Inc. (WMT) has merged its compliance, ethics, investigations and legal offices into one organization answering to the company’s general counsel amid a federal investigation into bribery allegations at the retail giant’s Mexico unit, according to a company-wide memo seen by Dow Jones Newswires.

Wal-Mart said in the memo sent Wednesday it had hired Washington, D.C., attorney Jay Jorgensen as its global chief compliance officer. Jorgensen, who is currently a partner at Sidley Austin LLP, will start Dec. 3.

“This move will allow us to leverage our strengths in these key disciplines around the world, resulting in close coordination and integration,” President and Chief Executive Mike Duke said in the memo.

Read the full story at Nasdaq.

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One comment

One wonders if that compliance department actually has any staff assigned to it. Keeping in mind the nonsense that goes on in some Walmart locations, it doesn’t seem all that likely. At least from a customer viewpoint, there’s no one home at Walmart; we’ve tried calling, we’ve posted complaints on the Walmart website about issues in one local Walmart which has numerous problems and 1. have never heard back from Walmart, and 2. there’s been no sign that anyone got the complaints. We’re talking about a location where the employees despise the general manager of the store, and Walmart clearly does not care. So as a result, I question whether they really have a viable compliance office and process.

by pbug56 on October 24, 2012 at 7:30 pm. Reply #

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