Walmart creates new role to handle bribery allegations
BENTONVILLE, Ark. — Amidst allegations of bribery at its Mexican affiliate, Wal-Mart Stores has created a new position. The global FCPA compliance officer will be responsible for ensuring that all Walmart divisions comply with the U.S. Foreign Corrupt Practices Act. This person will also oversee five FCPA compliance directors based in the international markets.
"Walmart has been working diligently on U.S. Foreign Corrupt Practices Act (FCPA) compliance and has a rigorous process in place to quickly and aggressively manage issues like this when they arise. In the last year, we have taken a number of specific, concrete actions to investigate this matter and strengthen our global FCPA compliance processes and procedures around the world and in Bentonville and Mexico," said David Tovar, VP corporate communications for Walmart.
Tovar added that in Mexico, specifically, Walmart has implemented enhanced FCPA compliance measures including:
robust policies and procedures;
enhanced auditing procedures; and
issue escalation and remediation protocols.