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News/Noticias
Wal-Mart receives "Corporate Governance" award from Hispanic Association on Corporate Responsibility. Miami, FL (June 17, 1998) – Wal-Mart Stores, Inc. is the 1998 recipient of the Hispanic Association on Corporate Responsibility (HACR) "Corporate Governance" award. The presentation was made during ceremonies at HACR's Symposium on Corporate Responsibility, held June 11-12, 1998, in Miami, Florida. The award was accepted by Don Soderquist, Vice Chairman of the Board and Chief Operating Officer, Wal-Mart Stores, Inc. of Bentonville, AR. "We are pleased to receive this award and are very proud of our growing involvement with the Hispanic community," said Soderquist. "We are convinced the increased number of Hispanics in our operations and policy-making positions – which currently represents over 10% of our top management positions – will help us better serve the needs of Hispanic customers," he added. According to Soderquist, Wal-Mart will continue its efforts to involve Hispanics at all levels of its worldwide operations through recruitment of employees, vendors, suppliers, and providers of professional services. The HACR award is part of its recognition of U.S. corporations which exhibit exemplary performance in corporate responsibility initiatives toward the Hispanic community. Through on going, comprehensive research, the Washington, D.C.-based coalition gathers data on "market reciprocity" issues affecting the Hispanic consumer market. HACR evaluates corporate performance in four key areas: Employment, Procurement, Philanthropy and Governance. "Wal-Mart is being recognized for its support and contributions to our community's economic and social development, especially in the area of governance," said Richard J. Bela, HACR President. "The recent appointment of Hispanics to their governing board emphasizes Wal-Mart's recognition of our community as both valuable customers and business assets," he added. In 1997, Wal-Mart named Jeronimo Arango of Mexico City to its Board of Directors. He is the founder, Chairman of the Board, and Chief Executive Officer of CIFRA – one of Mexico's major retail chains. Arango is well recognized for his development of CIFRA and considered a major contributor to Mexico's retail development. In March, 1998, Wal-Mart announced the appointments of Roland A. Hernandez of Los Angeles, CA, and Jose H. Villarreal of San Antonio, TX, to its Board of Directors. Hernandez is President and Chief Executive Officer of Telemundo Group, Inc., the second-largest Spanish-language television network in the nation. Villarreal is a partner in the San Antonio law offices of Akin, Gump, Strauss, Hauer & Feld, and a board member of national and local community-based organizations. Wal-Mart Stores, Inc. operates 2,359 Wal-Mart stores and 443 SAM'S Clubs in the U.S. and employs more than 720,000 associates throughout the nation – of which Hispanics represent over 50,000. Internationally, the company operates units in Argentina, Brazil, Canada, Germany, Mexico, Puerto Rico and China. Wal-Mart reported record earnings and sales for the year ending January 31, 1998, with net income increasing 15% on a 12% increase of sales. The Wal-Mart Board of Directors recently approved a 15% dividend increase for the current fiscal year to 31 cents ($0.31) per share. Its securities are listed on the New York and Pacific Stock Exchanges. (return to
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