Wal-Mart Stores Inc. (NYSE:WMT) reputation management chief to depart
Northern, WI 03/10/2013 (avauncer) –Wal-Mart Stores Inc. (NYSE:WMT)’s reputation management chief will bid adieu to the services of the company, disclosed in a memo yesterday.
Executive Vice President of Corporate Affairs Leslie A. Dach, 58, has been taking care of key activities like public policy and corporate communications. Wal-Mart will have to look for a suitable replacement, said in a memo addressed to employees by CEO Mike Duke. The announcement could be proved critical as it has come at a time when US regulators are still probing bribery allegations in company’s Mexico operations.
Dach, once a Democratic strategist who visits the company’s Bentonville office on a weekly basis, has told Duke that this is the ‘right time’ to go, said in the memo.
Many observers including Patricia Edwards, then a money manager at Wentworth, Hauser & Violich, at the time of Dach’s appointment had said that he would help Wal-Mart boost its image.
Prior to joining Wal-Mart Stores, Dach served in senior positions during Democratic presidential campaigns and supervised chores of the Clinton administration, as stated in his bio page on Wal-Mart’s website.
“Leslie has played a pivotal role in helping us understand the broader role Wal-Mart can play in meeting the major challenges facing society today, and social goals are now an integral part of how we run our business,” Duke stated in the memo. He has highlighted Dach’s contribution in the areas of nutrition and economic empowerment of women.
Dach’s is the second senior-level exit after Tom Mars, executive vice president and chief administrative officer, to be announced in few weeks.
Wal-Mart Stores Inc. (NYSE:WMT) stock was up 0.25% to close at $73.03DISCLAIMER: This content is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment. - Contact us at support @ avauncer dot com if you have any questions or comments.