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Wal-Mart Asks Senior Board Member to Resign

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An investigation into alleged misappropriation of funds led to the resignation of A Wal-Mart senior board member.

Thomas M. Coughlin was asked by the company to resign after a disagreement over the investigation’s results.

According to a Washington Post article,

“Three Wal-Mart employees, including one officer, were also terminated in connection with the investigation. The company did not release their names.

Coughlin, whose duties included overseeing Wal-Mart’s U.S. divisions and operations such as logistics, had been the second-highest-ranking executive at Wal-Mart, under the giant retailer’s chief executive H. Lee Scott Jr., until his retirement in January. Coughlin announced his retirement from the company in December. At the time, he also stepped down as vice chairman of the board but said he would remain a member until his term expires June 3, when Wal-Mart holds its annual meeting.”

Wal-Mart is expecting its March sales to be greater than or least the same as February.

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Wal-Mart Asks Senior Board Member to Resign
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