New York City Pension Funds is urging shareholders to vote against the re-election of Wal-Mart Stores Inc. CEO Mike Duke and four other board members due to concerns about the world's largest retailer's bribery investigation in Mexico.
The pension group owns 5.6 million shares of Wal-Mart, which has more than 3.4 billion shares outstanding.
In a letter to shareholders on Wednesday, the fund says shareholders should vote against Duke, H. Lee Scott Jr., Arne M. Sorenson, S. Robson Walton and Christopher J. Williams during the company's annual meeting on June 1.
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