Regions

The board of Wal-Mart Stores Inc. appointed James Cash Jr. as the company's new Lead Independent Director, according to Davor Torar, spokesperson of Wal-Mart Stores Inc. The voting was held during the company's annual board meeting, said Tovar.

The 65-year old Harvard University Professor Emeritus joined the company's board in 2006. His incumbent is former lead director James Breyer. Breyer failed to gain any nominations at this year's election of the board.  Samuel Robson "Rob" Walton maintains his position as chairman of the board.

Mike Duke, Wal-Mart Stores' Chief Executive Officer, gained below 90 percent of the sharehoders' votes amidst claims of bribery with the Mexican government. The investigation of the allegations on the $24 million bribery to Mexican government officials sparked an even greater probe on other expansions in Brazil, India, and China.

Cash served on the company's Technology and eCommerce Committee, as well as Wal-Mart's audit department, during the time of the alleged bribery.