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Tuesday, March 5, 2013

Leading proxy firms seek ouster of HP chairman, directors, (NYSE: WMT)

Two leading proxy advisers on Tuesday urged Hewlett-Packard Co shareholders to oust several directors for their role in the ill-fated 2011 acquisition of British software company Autonomy, with No. 1 proxy firm ISS issuing a rare call to reject Chairman Ray Lane.ISS, closely followed by investors seeking guidance on controversial issues, has suggested voting against Lane, a managing partner at high-powered Silicon Valley venture capital firm Kleiner Perkins. They also gave fellow board members John Hammergren and G. Kennedy Thompson the thumbs-down.The recommendation against Lane marked one of the few "special cases" in which ISS has advised shareholders against re-electing the chairman of the board.In 2012, it recommended against Wal-Mart Stores Inc Chairman Robson Walton and other directors for failing to fully investigate allegations of widespread bribery by company officials in Mexico.

Wal-Mart Stores, Inc. (Walmart) operates retail stores in various formats around globally. Shares of WMT traded higher by 0.63% or $0.46/share to $73.72. In the past year, the shares have traded as low as $57.18 and as high as $77.60. On average, 9224330 shares of WMT exchange hands on a given day and today's volume is recorded at 9142337.