Wal-Mart de Mexico has the Best Corporate Governance in Mexico, and the Fourth in Latin America: Management & Excellence

Last week, Wal-Mart de Mexico announced it is the company with the best corporate governance in Mexico and the fourth best in Latin America according to Spanish consulting company Management and Excellence (M&E) which rates 50 non-banking sector companies in the region. In the group, there are 25 Brazilian companies and 14 Mexican companies.

The study uses metrics from the Organization for Economic Co-operation and Development (OECD), the Dow Jones Sustainability Indexes, the New York Stock Exchange (NYSE) and the Sarbanes-Oxley Act (SOX) to evaluate several corporate governance subjects such as board of director’s responsibility, shareholders’ rights, audit committees’ guidelines, transparency practices and the use of good governance policies.

“Integrity is above anything else in Wal-Mart de Mexico. We understand that the only way to pass on our value proposition to our customers, meet shareholders’ expectations, foster associate growth, and contribute towards improving the quality of life for Mexican families is having good corporate governance, one that is ethical, disciplined, transparent and efficient. Being considered the company with the best corporate governance in Mexico is a huge responsibility, and a challenge to continue generating value for Mexico,” said Raul Arguelles, Sr. VP for Corporate Affairs and People Division for Wal-Mart de Mexico.

This is the second time Wal-Mart de Mexico has been recognized by M&E as a leading company in Mexico. In May 2007, WMM was named the company with the highest sustainability, governance and corporate social responsibility in Mexico. Also, WMM is the only Mexican company among the first ten companies in this field in Latin America

With these initiatives Wal-Mart de Mexico reaffirms its commitment to improve the quality of life for Mexican families.

Committed to a better Mexico

Wal-Mart de Mexico S. A. de C.V. (BMV: WALMEX) is a retail company whose vision is to contribute towards improving the quality of life for Mexican families. It has several business formats, including self-service stores (Bodega Aurrera, Wal-Mart Supercenter and Superama), membership warehouse clubs (Sam’s Club), apparel stores (Suburbia) and restaurants (Vips, El Porton and Ragazzi), amounting to 1,045 units. In 2008, Wal-Mart de Mexico received the Socially Responsible Company award for the eighth consecutive year.

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