Home » Business » Wal-Mart Stores, Inc.(NYSE:WMT): Executive Leslie Dach To Leave In June

Leslie Dach had an influential part in rediscovering the image of Wal-Mart Stores, Inc.(NYSE:WMT) in the wake of increasing attacks by labor groups and other critics. Dach is leaving the company in June.

The largest retailer in the world has said on Friday that it has a search underway for a suitable replacement of Dach.

Dach had joined Wal-Mart in August of 2006 as executive vice president of corporate affairs, which was a newly created job post. He came on board at a time when there were increased attacks on Wal-Mart from complaints about the way the company treated its workers.

The stock of the company had gone down by 20% from an initial point of 2005 to a record low in 8 years of $42 after two years. It is currently trading slightly above $73 and has gained 22% in the last year.

When Dach was working in the company, the discounter had rolled out several far-reaching initiatives, including major suppliers reducing package and making its food healthier by embracing steps to reduce sugars, fats and salt. Newer initiatives entail enhancing sourcing of US-based products by $50 billion over the next decade. Wal-Mart has also introduced a scheme to empower female factory in Bangladesh, Central America, India and China.

A number of initiatives have helped in improving the reputation of Wal-Mart and they have also proved to be great business decisions. However, Wal-Mart is still dealing with criticism over its way of treating its employers. It is also experiencing accusations over bribery in its facilities based in Mexico that have been noticed sometime in April. Wal-Mart has introduced its own internal probe and is working along with government officials in Mexico as well as the US.

Mike Duke, the president and CEO of Wal-Mart, has written in an email to his employees that Leslie has acted as a very important person in assisting to realize the broader role that Wal-Mart is capable of playing in meeting the major challenges that the society is facing these days.

The Ultimate Cheat Sheet to "Wal-Mart Stores Inc." (WMT) Stock

This free Special Report reveals:

1) 97% Accurate Trading Signal For "Wal-Mart Stores Inc." (WMT) With A 2 Year Signal History.
2) Same Trading Signal Used By Hedge Funds which Cogo News Provides You For FREE

Enter your email below for immediate access.

Your information is safe with us and will not be shared with any third party.

No comments yet... Be the first to leave a reply!