Wal-Mart reorganizes compliance office amid bribery probe
Posted: October 24, 2012 at 12:34 p.m.
NEW YORK Wal-Mart Stores Inc., the world’s largest retailer, combined its compliance office with ethics, investigations and legal functions to form one organization amid a bribery probe at the company’s Mexico operations.
The new unit will report to the company’s general counsel, Wal-Mart said Wednesday in a memorandum. The retailer also hired Jay Jorgensen, an attorney with Sidley Austin LLP in Washington, as global chief compliance officer.
The moves come after Bentonville-based Wal-Mart named Daniel Trujillo to the new position of senior vice president and chief compliance officer of its international operations earlier this month.
The U.S. Department of Justice and the U.S. Securities and Exchange Commission are investigating allegations that Wal-Mart systematically bribed Mexican officials so it could more quickly open stores, possibly violating the Foreign Corrupt Practices Act.
Jorgensen previously served as a law clerk for U.S. Supreme Court Justice William Rehnquist and Samuel Alito while he was at the U.S. Court of Appeals for the Third Circuit, according to the memo.
The Wall Street Journal reported the changes and hiring earlier.