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“ My mother and dad always maintained
that each store knew what was most
important in its own community, and their
philosophy endures today.”
Thoughts
& Comments
From Rob Walton,
Chairman of the Board of Directors
Following are representative questions from Wal-Mart
shareholders which provide an opportunity for Rob
Walton, Chairman of the Board of Wal-Mart Stores,
Inc., to share his perspective in a few key areas.
What are your thoughts on why Wal-Mart
ran full-page ads in more than 100
newspapers this past January?
It was time to set the record straight. For some time,
Wal-Mart has been the target of criticism on a number
of subjects. We know that we are not perfect, but we
also know when someone is not telling the truth about
our company or distorting the facts to suit their own
purposes. For example, consider our associate benefits.
An independent benefits firm actually ranked our
benefits among the best in retail. Personally, I’m
proud of our company and everything it stands for.
I want to see it represented accurately. Our adver-
saries are entitled to their opinions, but not their
own set of facts. You will continue to see us take a
more aggressive approach in this area. I also would
encourage people to visit our new, non-commercial
Web site – http://www.walmartfacts.com – and read
the facts about Wal-Mart.
What can you tell us about today’s
Board of Directors?
First, I am pleased with the quality and depth of our
current Board. We have an excellent mixture of experi-
ence and individual perspective which I assure you
leads to some spirited discussions. We continue to add
talent to our Board. For example, we just added Doug
Daft, former CEO of The Coca-Cola Company, to our
Board and he will add expertise in the international
area as well as bring perspective as the former CEO
of one of our major suppliers. In addition, two of our
key Board committees – Audit and Compensation –
are headed respectively by two very capable people,
Roland Hernandez and Jose Villarreal. Our newest
nominee, Linda Wolf, brings perspective and strategic
communications experience from overseeing Leo Burnett,
one of the world’s leading advertising agencies.
14 WAL-MART 2005 ANNUAL REPORT