Walmart Said It Would Cut the CEO's Bonus Last Year. It Didn't.
- Firm says some information ‘inadvertently’ not shown in proxy
- CEO McMillon was paid $33.2 million for last fiscal year
Walmart's Pay Ratio
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Walmart Inc. told shareholders last year that it would cut cash bonuses by 25 percent for top managers including Chief Executive Officer Doug McMillon in favor of more stock awards. That didn’t happen.
The world’s largest retailer didn’t use the reduced target amounts when calculating the latest bonuses for McMillon and three other executives, according to a Bloomberg Pay Index analysis of the firm’s proxy statements, including its most recent one on Friday. The discrepancy resulted in payments of $3.12 million in excess of what was stated in the most recent proxies.