Reuters: Regulatory News: UPDATE 1-Wal-Mart says Gean is global FCPA officer

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UPDATE 1-Wal-Mart says Gean is global FCPA officer Apr 25th 2012, 13:43 April 25 | Wed Apr 25, 2012 9:43am EDT April 25 (Reuters) - Wal-Mart Stores Inc on Wednesday said the internal lawyer serving as its global compliance officer on foreign corrupt practices act issues is Tom Gean, and gave details on the external teams helping with its ongoing investigations. The disclosures come after the New York Times reported on Saturday that a senior Wal-Mart lawyer received an email from a former executive at Wal-Mart de Mexico in September 2005 that described how the Mexican affiliate, known as Walmex, had paid bribes to obtain permits to build stores in Mexico. Tom Gean, former U.S. attorney for the Western District of Arkansas, was named to the newly created post of global FCPA compliance officer earlier this year. Gean has worked for Wal-Mart since 2004. Wal-Mart said that Gean stepped into the new role before the Times story ran -- but that was after the Times said it informed Wal-Mart about its reporting last year. Law firm Jones Day is leading the company's investigation and is reporting to the audit committee of the board, which is comprised of four independent directors. Deloitte is the investigative forensic accountant assisting Jones Day on the investigation launched in November 2011, Wal-Mart said. Cahill Gordon & Reindel is serving as outside counsel to the audit committee, Wal-Mart said. Meanwhile, Greenberg Traurig is the outside counsel for the worldwide compliance review Wal-Mart says it started in March 2011, and reports to Gean. KPMG is serving as compliance review accountant, assisting Greenberg Traurig.

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