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March 25, 2005
Wal-Mart director Tom Coughlin resigns after internal probe
From Discount Store News:
BENTONVILLE, Ark. - March 25 - Following an internal company investigation, Thomas Coughlin has resigned from the Wal-Mart board of directors. The investigation relates to personal reimbursements, payment of third-party invoices and the use of company gift cards.
Three Wal-Mart employees have been terminated in connection with the investigation, including one company officer.
Wal-Mart initiated the investigation on its own and has now referred the matter to the U.S. Attorney for the Western District of Arkansas. There will be no adverse financial impact to the company in connection with this matter.
Posted by Chris at March 25, 2005 10:46 PM