• The Wall Street Journal reports that Walmart "is searching for a new chief ethics and compliance officer as Daniel Trujillo - who for the past two years led the retail giant’s global compliance program - prepares to leave the company."
The story notes that "Trujillo joined the company in 2012 as a senior vice president and international chief compliance officer. He was promoted to executive vice president and global chief ethics and compliance officer in 2019 … Mr. Trujillo’s time in Walmart’s compliance department coincided with long-running investigations by the U.S. Justice Department and U.S. Securities and Exchange Commission into allegations of bribery in Mexico and elsewhere. The company in 2019 agreed to pay $282 million to resolve the Foreign Corrupt Practices Act investigations. The company also spent heavily to strengthen its compliance program, accruing more than $900 million in costs for compliance enhancements and internal investigations by the time of the settlement."
• Digital Commerce 360 reports that "Walmart Inc.’s ecommerce unit, Flipkart Online Services Pvt., signed a pact with tycoon Gautam Adani’s conglomerate to build one of the largest retail warehouses in India as the U.S. giant gears up to battle Amazon.com Inc. and homegrown rivals in the South Asian nation.
"The partnership marks the entry of Adani, India’s fastest-rising billionaire, into the three-way fight for domination of India’s online shopping space. Up against the Walmart-Adani alliance is not just Amazon, but also Reliance Industries Ltd., the conglomerate owned by Mukesh Ambani, India and Asia’s richest man.
"They all want a slice of a market estimated to generate $200 billion in sales by 2026—turbocharged by pandemic restrictions that are keeping people away from brick-and-mortar stores."