NEW YORK (AP) – The former head of Wal-Mart’s Mexico operations is stepping down from his current board positions at MetLife, effective immediately.
The insurance giant announced Tuesday afternoon that Eduardo Castro-Wright had resigned “due to personal reasons.”
Castro-Wright was leading Wal-Mart de Mexico at the time of an alleged widespread bribery scheme there. The New York Times reported last weekend that Castro-Wright was the driving force behind millions of dollars in alleged bribes given to Mexican officials in exchange for speedier building permits and other favors to help it expand aggressively in the region.
Experts say Castro-Wright could face federal criminal charges.
On Tuesday, MetLife filed a letter with the Securities and Exchange Commission from Castro-Wright and addressed to MetLife CEO and Chairman Steven Kandarian.