World largest retailer Wal-Mart Stores Inc announced that its Board of Directors (BOD) has nominated Aida M Alvarez, former administrator of the U.S. Small Business Administration, and James I Cash, Jr, retired professor of business administration at the Harvard University Business School, for election to the Wal-Mart board at the company's annual shareholders' meeting June 2.
The company also announced that current board members José H. Villarreal, J Paul Reason and John D. Opie will not stand for re-election at the June 2 meeting.
Company is pleased that Aida and James have been nominated to join company's board said Rob Walton, chairman of the board of Wal-Mart Stores Inc "I believe their insight and years of experience will be extremely valuable to our company. Aida has had a distinguished career in government and the banking sector, and James is widely regarded as an expert in business management.
Aida M. Alvarez, 56, was Administrator of the U. S. Small Business Administration and a member of President Clinton's Cabinet from 1997 to 2001. She was the founding director of the Office of Federal Housing Enterprise Oversight, the financial regulator of Fannie Mae and Freddie Mac, from 1993 to 1997, and prior to that was a vice president in public finance at First Boston and Bear, Stearns & Co. Inc. She presently serves on the board of UnionBanCal Corporation and is a former director for Pacificare Health Systems, Inc. Ms. Alvarez also serves on the diversity advisory board for Deloitte & Touche, L.L.P.
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