Walmart Rolling Out Big Compliance Reforms
Donna Boehme – Corporate Counsel – April 29, 2014
It’s not easy being the world’s largest company, especially after making some of the world’s largest compliance blunders.
Ever since April 2012, when an exhaustive 8,000-word New York Times investigative report broke wide the allegations of Wal-Mart Stores Inc.’s “vast” Mexican bribery scandal, compliance and legal professionals have been following the company’s crisis response with particular interest.
With headline-making details such as a whistleblower willing to air all of the corporate dirty laundry, an army of shadowy “gestores” trained to grease the company’s domination of the Mexican retail market and reports that a handful of C-suite executives had “hushed up” an internal bribery probe, this was a riveting case.
Two years and $500 million dollars later (purportedly racking up $1.1 million per working day in costs, Walmart is rolling out some encouraging “enhancements” to its compliance program.
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