BENTONVILLE (dpa-AFX) - Wal-Mart Stores, Inc. (WMT), the world's largest retailer, said Wednesday that board member and former President and Chief Executive Officer Lee Scott and board member Chris Williams will not be standing for re-election to the company's Board of Directors at its Annual Shareholders' Meeting on June 6.
Scott will complete his service as a director in June at the Annual Shareholders' Meeting in line with Walmart's historical practice for its prior CEOs' board service. Williams is rotating off of the board after 10 years of service in accordance with Walmart's corporate governance guidelines.
Scott served as Walmart's president and chief executive officer from January 2000 until his retirement on Jan. 31, 2009.
With Scott's and Williams' retirement, the Walmart board will consist of 14 directors, all of whom will stand for re-election to the board at Walmart's Annual Shareholders' Meeting on June 6.
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