Wal-Mart's Castro-Wright resigns MetLife board to focus on ‘protecting good name’
Bentonville, Ark. -- Amidst allegations of involvement in a foreign bribery scandal, Wal-Mart Stores vice chairman Eduardo Castro-Wright has vacated his seat on the board of life insurer MetLife, according to a Tuesday announcement by Wal-Mart.
In a letter to MetLife CEO Steve Kandarian, Castro-Wright said that the recent events at Wal-Mart would require his “immediate and personal attention. Accordingly, I now must focus my energy in spending personal time with my family and in protecting my good name and business reputation.”
A copy of the letter was filed Tuesday with security regulators.
Castro-Wright was named in the New York Times report last weekend as a key figure in the alleged foreign bribery scandal at Wal-Mart.
He has been a member of the MetLife board since March 2008 and his term was not due to expire until 2014.