Latest news with #DanBartlett
Axios
05-06-2025
- Business
- Axios
Walmart's annual meeting faces 7 charged shareholder proposals
Walmart's annual Associates Week kicked off Monday in Northwest Arkansas and its annual shareholders' meeting is Thursday morning at 8:30. Why it matters: Employing 2.1 million people and being the world's largest company by revenue, Walmart holds the leverage to influence global supply chain as well as human rights and environmental issues. The big picture: A few years ago, consumers, shareholders and employees increasingly expected companies to take stances on social issues as part of their corporate strategy. But even as some companies dig in on commitments to diversity, equity and inclusion (DEI), many others have lifted their foot off the pedal as backlash over DEI and environmental, social and governance issues become more politically charged. This week's gathering may be a peek at how Walmart will navigate this evolving environment. State of play: The company's 2025 proxy statement outlines 11 proposals for shareholder voting today. Seven were submitted by outside investors to which the company suggests votes of no. The company explains its rationale for each in its proxy statement. Loosely categorized, the external proposals break down into three groups of equity, environmental and governance: Equity — Organization United for Respect calls for a third-party audit to analyze impact on and make recommendations for the company's racial equity impact. A proposal from Bowyer Research asks for a report evaluating how Walmart "oversees risks related to discrimination against ad buyers and sellers based on their political or religious status or views." The National Center for Public Policy Research, on the other hand, wants a report "explaining why it apparently took an external threat of public exposure of Walmart's policies and practices for Walmart to revise its Diversity, Equity, and Inclusion initiatives." The company said it would phase out the term and some related programs in November. What they're saying:"We'd already moved to the term of 'belonging' over a year ago, and moved away from DEI," corporate affairs EVP Dan Bartlett told Axios in January. "We aspire to be a place where, regardless of your politics or regardless of your views on cultural issues, you still feel like you're welcome and seen at Walmart." Environmental — Green Century Capital Management calls for the company to report how it can "can increase the scale, pace and rigor of its sustainable packaging efforts." The National Legal and Policy Center wants the company's board to examine Walmart's plastic production and packaging policies through the lens of non-biased research. Governance — Oxfam America seeks a report on the steps the company's taken since 2019 to "monitor and manage human rights risks related to workplace health and safety." A group on behalf of the AFL-CIO requests that Walmart commission a third-party study of its policies for "law enforcement information requests relating to the use of medications" by employees and customers, and disclose the results. Between the lines: The request follows a growing patchwork of state laws governing the sale and distribution of certain medications — notably for contraception, abortion and gender-affirming treatments. The four internal proposals related to the board of directors, its executive compensation program, ratification of its accounting firm and approval of its stock incentive plan.
Bloomberg
04-06-2025
- Business
- Bloomberg
Walmart Pledges Transparency on Prices After Drawing Trump's Ire
Walmart Inc. said it will continue to communicate the impact of tariffs with investors, consumers and policymakers after President Donald Trump criticized the retailer's plans to raise prices. 'We don't aim to be a political figure. We are providing facts as they come,' Dan Bartlett, executive vice president of corporate affairs, told reporters in response to a question about tariff discussions at the company's annual shareholders' week in Bentonville, Arkansas.
Time of India
22-04-2025
- Business
- Time of India
Walmart-backed Flipkart to shift base back to India from Singapore
Flipkart will shift its holding company from Singapore to India , the e-commerce company said on Tuesday, as its parent Walmart aims to take the 17-year-old company public. Many Indian startups that once chose to be based abroad for better access to capital and smaller tax bills are now queuing to return home from financial hubs such as Singapore and the U.S. due to better initial public offering ( IPO ) prospects in a country that does not allow dual listings. "This move represents a natural evolution, aligning our holding structure with our core operations," Flipkart said in a statement. Flipkart started in 2007 by selling books online and expanded into a behemoth that competes with Amazon in India. It moved its holding company to Singapore in 2011. Walmart bought a controlling stake in Flipkart in 2018, which also gave it ownership of PhonePe , a digital payments company owned by Flipkart at the time. In 2022, PhonePe separated from Flipkart and shifted its headquarters from Singapore to India, a move that left Walmart with a tax bill of nearly $1 billion. Walmart is looking to list Flipkart and PhonePe in India over the next couple of years, Dan Bartlett, Walmart's executive vice president for corporate affairs, told Reuters last year. PhonePe has already begun preparatory steps for a public listing on India's stock exchanges. Financial technology firms Razorpay and Pine Labs, quick commerce startup Zepto and advertising technology company InMobi are among startups that have already shifted, or are in the process of shifting, back to India.
Business Times
22-04-2025
- Business
- Business Times
Walmart-backed Flipkart to shift base back to India from Singapore
[BENGALURU] Flipkart will shift its holding company from Singapore to India, the e-commerce company said on Tuesday (Apr 22), as its parent Walmart aims to take the 17-year-old company public. Many Indian startups that once chose to be based abroad for better access to capital and smaller tax bills are now queuing to return home from financial hubs such as Singapore and the US due to better initial public offering (IPO) prospects in a country that does not allow dual listings. 'This move represents a natural evolution, aligning our holding structure with our core operations,' Flipkart said in a statement. Flipkart started in 2007 by selling books online and expanded into a behemoth that competes with Amazon in India. It moved its holding company to Singapore in 2011. Walmart bought a controlling stake in Flipkart in 2018, which also gave it ownership of PhonePe, a digital payments company owned by Flipkart at the time. In 2022, PhonePe separated from Flipkart and shifted its headquarters from Singapore to India, a move that left Walmart with a tax bill of nearly US$1 billion. Walmart is looking to list Flipkart and PhonePe in India over the next couple of years, Dan Bartlett, Walmart's executive vice-president for corporate affairs, told Reuters last year. PhonePe has already begun preparatory steps for a public listing on India's stock exchanges. Financial technology firms Razorpay and Pine Labs, quick commerce startup Zepto and advertising technology company InMobi are among startups that have already shifted, or are in the process of shifting, back to India. REUTERS
Time of India
22-04-2025
- Business
- Time of India
Walmart-owned Flipkart returns to India from Singapore after 14 years
Flipkart has announced that it is shifting its holding company from Singapore back to India. This strategic move, confirmed by the 17-year-old company, comes as its parent firm, Walmart , eyes a potential initial public offering (IPO) for the homegrown online retailer. As per news agency Reuters, the e-commerce giant described the relocation as 'a natural evolution, aligning our holding structure with our core operations.' The company, which began its journey in 2007 by selling books online before transforming into a major competitor against Amazon in the Indian e-commerce landscape, had moved its holding entity to Singapore in 2011. Walmart acquired a controlling stake in Flipkart in 2018, a deal that also included ownership of PhonePe , a digital payments platform then under Flipkart's umbrella. Walmart, PhonePe plan to list for IPO in India by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like My Dad Asked, 'Is Your Allowance Sufficient?' I Replied, 'What Allowance?' Daily Sport X Undo Walmart's long-term strategy includes listing both Flipkart and PhonePe on Indian stock exchanges within the next couple of years. Dan Bartlett, Walmart's executive vice president for corporate affairs, had indicated this intention to Reuters last year. The decision underscores a growing trend among Indian startups that had previously established their base in overseas financial hubs like Singapore and the US. Driven by more favourable IPO prospects within India's domestic market, which currently prohibits dual listings, these companies are now opting to return to their roots. Notably, PhonePe separated from Flipkart in 2022 and had already shifted its own headquarters from Singapore to India, a move that resulted in a significant tax implication of nearly $1 billion for Walmart. PhonePe has already initiated preparatory steps towards its public listing in India. Flipkart joins a growing list of prominent Indian startups that are either in the process of or have already completed their repatriation to India. This includes financial technology firms Razorpay and Pine Labs, quick commerce startup Zepto, and advertising technology company InMobi, signaling a strengthening of India's domestic capital markets and a preference for local listings among successful ventures.
