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Mass. pension board opposes Walmart directors

By Beth Healy

 |  Globe Staff  

  May 29, 2012

The board of the Massachusetts state pension fund, which has $60 million invested in Walmart Stores Inc. stock, voted against the reelection of seven corporate directors at the giant retailer. State officials said some directors, “were deemed too closely associated” with an alleged bribery scandal involving the permitting of Walmart stores in Mexico. The $50 billion Massachusetts pension fund has taken a more activist position on voting proxies under Treasurer Steven Grossman, who is the pension board’s chairman.

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