Walmart shareholders to vote on AI and worker safety
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John Furner, Walmart's president and CEO, at the 2025 Associates Week event. Photo: Worth Sparkman/Axios
Walmart shareholders this week will vote on outside investor proposals focused on some of the retailer's most politically and operationally sensitive issues.
Why it matters: Walmart is one of the world's largest employers, giving its policies global influence across labor, technology, supply chains and corporate governance.
State of play: The company's 2026 proxy statement outlines eight voting items. Four proposals were submitted by outside investors.
They urge Walmart to:
- Adopt cumulative voting in board elections, a change the National Legal and Policy Center says would give minority shareholders more influence given the Walton family's large ownership stake.
- A proposal from Oxfam America asks for a report on how the board monitors human rights risks tied to worker safety, injury rates and attendance policies.
- Report on how U.S. immigration policy and enforcement are affecting Walmart's operations, a request from SOC Investment Group that cites potential workforce, trucking and agricultural supply chain risks.
- A proposal from United for Respect asks Walmart to explain how it measures the effect of advanced technologies — like artificial intelligence and automation — on jobs, pay, training and equity.
Walmart recommends shareholders vote no on each.
The other four are company-backed proposals, including the election of 11 directors, ratifying Ernst & Young as Walmart's independent accountant, approving executive compensation and amending the company's certificate of incorporation to limit the liability of certain officers under Delaware law.
Between the lines: The AI proposal lands as Walmart leans harder into its "people-led, tech-powered" strategy.
- The proxy highlights AI as one of the biggest forces shaping retail and says the company is using new technologies to improve customer experiences, reduce friction, simplify decision-making, improve supply chain processes and give associates more tools.
What they're saying: Walmart says additional reports are unnecessary because it already discloses information on workplace safety, workforce strategy, AI oversight, supply chain risk and public policy engagement.
- In the introduction to the shareholder proposal section, Walmart says some proposals try to use the company's name recognition to draw attention to causes and "force Walmart to take sides on sensitive or polarizing issues."
Context: This is Walmart's first annual meeting since John Furner succeeded Doug McMillon as CEO.
Reality check: Walmart shareholders generally vote with the company's recommendations.
What's next: The company's annual shareholders' meeting is set for 8:30am Thursday, June 4.