Doug McMillon: Walmart (WMT) Pledges $100 Million For Addressing Systematic Racism

By Dan Anderson ● June 5, 2020
  • Walmart Inc (NYSE: WMT) CEO Doug McMillon sent an email to employees to condemn the death of George Floyd and announce a commitment to addressing systematic racism

Today Walmart Inc (NYSE: WMT) President and CEO Doug McMillon sent an email to employees to condemn the death of George Floyd and announce a commitment to addressing systematic racism. And McMillon also revealed that Walmart will be making changes to advance racial equality.

In terms of financial commitment, Walmart and the Walmart Foundation have pledged $100 million over 5 years. McMillon pointed out that the company is going to make changes to fight for greater racial equity inside and outside of the company.

“The global health crisis has tested all of us in recent months, and the racial violence in the U.S. — in particular, the murder of George Floyd — is tragic, painful, and unacceptable,” said McMillon in the announcement.

Some of the initiatives that include making recruitment, development, and support of Americans and people of color more of a priority. And the company will invest in improving fairness, equity, and society.

“We will find the natural overlaps between Walmart’s core business and society’s larger needs that perpetuate racism and discrimination,” he wrote. “Specifically, we’re going to focus the power of Walmart on our nation’s financial, healthcare, education, and criminal justice systems,” added McMillon.

The $100 million donation will involve developing a new center focused on racial equity. The new center will seek to advance economic opportunity and healthier living, including issues that surround social determinants of health. And it will also support “criminal justice reform with an emphasis on examining barriers to opportunity faced by those exiting the system.”