The 2012 Walmart Shareholders Meeting was a tremendous success from both a business and an entertainment standpoint.
Justin Timberlake arrived on stage in a hula skirt, reminiscent of Sam Walton’s famous Hula Dance on Wall Street, and entertained the crowd as he emceed throughout the morning. A bevy of entertainers surprised the crowd of around 14,000 associates and shareholders as the meeting moved along. Entertainment included the Zac Brown Band, Victoria Matlock, Juanes, Take 6, Ariele Macadangdang, Ladysmith Black Mambazo, Lionel Richie, Taylor Swift, and Celine Dion.
Shareholders heard from CFO Charles Holley, President of Walmart International Doug McMillion and CEO Mike Duke during the business portion of the meeting. The reports were rosy, as Walmart has seen improved comp-store sales in recent quarters and it’s share price has hit levels not seen in more than a decade.
Rob Walton, chairman of the board of directors, announced preliminary results of shareholder voting which showed that all 15 current board members were re-elected and Marissa Mayer of Google was elected as the 16th director. Shareholder proposals failed to receive the majority votes needed to pass.
The shareholders meeting wrapped up a long week of events, during which shareholders and associates were immersed in Walmart culture and history, and were entertained by artists such as Carrie Underwood, Chris Young, Aerosmith, Cheap Trick and several others.