James I. Cash, Jr.

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Quick facts

Family: Wife, Clemmie (born 1948); and two children, Tari (born 1975) and Derek (born 1982).[1] Cash is the son of a railroad mechanic and a teacher.[2]

Age: 65, born October 1947[3]

Residence: Sarasota, FL; native of Fort Worth, TX

Cash has been a member of the Walmart Board of Directors since 2006, and is on the Audit Committee, which is overseeing the Board’s investigation of the Mexican bribery allegations, as well as the Technology and eCommerce Committee. In June 2013, he was appointed lead independent director after Jim Breyer stepped down from the board.

Refusal to address concerns of Walmart associates

Members of the Organization United for Respect at Walmart (OUR Walmart) and their allies have repeatedly reached out to Jim Cash for him to listen to their concerns. Mr. Cash repeatedly ignored these requests (see here for a detailed list of efforts by Walmart associates to initiate a dialogue with Mr. Cash).

Wealth

Real estate

In November 2011, Cash and his wife paid $1,675,000 for a fourteenth floor condo in Sarasota, FL. The 4,534 square foot corner condo has four bedrooms, five bathrooms, and panoramic views of the Gulf.

Corporate pay

In 2012, he was paid over $1 million for serving on the Board of Directors at Walmart, General Electric, and the Chubb Corporation. He owns about $1.8 million of Walmart stock.[4]

Educational and professional background

 Education

  • Texas Christian University: BS, Mathematics
  • Purdue University, Graduate School of Mathematical Sciences: MS, Computer Science, 1974
  • Purdue University, Krannert Graduate School of Management: PhD, Management Information Systems, 1976

Professional life

Cash operates a consulting firm called The Cash Catalyst, headquartered in Sarasota, FL, through which he offers personal development programs for executives in Global 500 organizations. Cash is known as a great networker. According to the Boston Globe, “Networking comes easily to James Ireland Cash Jr., whose connections are nearly unrivaled on the American business scene.”[5]

Dr. Cash is an Emeritus James E. Robison Professor of the Harvard Business School; he served on the faculty of the Harvard Graduate School of Business from 1976 to 2003. He was the chairman of the M.B.A. program from 1992 to 1995. Cash’s research focused on management of large-scale information technology organizations in multinational companies. Cash was Harvard’s first tenured black professor. When he retired from Harvard, Cash told the Boston Globe that he was going to devote himself to “the plight of young African American males.”[6] For a time, he sat on the board of the Harlem Children’s Zone Project, but it is now unclear if he has continued to pursue this interest.

Unfortunately, Mr. Cash, as a Director of the nation’s largest employer of African Americans, has been silent when it comes to the issues of Walmart workers. Since late 2011, Walmart associates have repeatedly reached out to Cash in writing and in person, requesting that he meet with them to listen to their experiences and concerns, but he has continually rebuffed them

Walmart shareholders have also increasingly expressed concern about Cash’s leadership of the company. In 2013, the California State Teachers’ Retirement System voted against all of Walmart’s board members, including Cash. Calpers, the nation’s largest pension fund, voted against him as well, citing “concerns surrounding the Board’s oversight of operational and reputational risk.” The New York City Pension Funds voted against Cash too, given his role on the Audit Committee and “for failing to ensure adequate internal compliance controls since 2006.”

Corporate boards

As Cash’s career has progressed, he has spent more time on corporate boards.[7] He is currently on the boards of three publicly traded companies and . Cash formerly served on the boards of Microsoft, Knight Ridder, Scientific-Atlanta, State Street Bank Boston, United Telecom, and others.

Current board and other corporate appointments:

Political contributions

James and Clemmie Cash have contributed $6,000 to candidates and PACs in federal elections since 1989, the majority of which has gone to Democrats, including $1,250 to Barack Obama, $250 to Barney Frank, $1,000 to Hillary Clinton, $2,000 to Bill Bradley, and $1,000 to Harold E. Ford, Jr.

Community connections

 


[1] Nexis public records search.

[2] D.C. Denison, “Center Stage after Years of Behind-the-Scenes Clout at Harvard, James Cash Prepares for the Spotlight as He Tackles Microsoft Culture, Plight of Black Youth.” The Boston Globe. March 16, 2003.

[3] Nexis public records search.

[4] Based on reported ownership of 23,434 shares as of April 1, 2013 and WMT’s adjusted closing price of $77.20 per share on July 17, 2013.

[5] D.C. Denison, “Center Stage after Years of Behind-the-Scenes Clout at Harvard, James Cash Prepares for the Spotlight as He Tackles Microsoft Culture, Plight of Black Youth.” The Boston Globe. March 16, 2003.

[6] Ibid.

[7] Ibid.

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© 2012 Making Change at Walmart