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Tags: amazon shareholder proposals | investors | working conditions audit | plastics | contracts | exec comp

Amazon Shareholders Vote vs. Labor Conditions Audit

Amazon
(AP)

By    |   Wednesday, 25 May 2022 02:02 PM EDT

Amazon.com Inc. shareholders on Wednesday voted against all 15 investor-led resolutions that challenged the company's policies — including its use of plastics and certain concealment clauses in contracts — at the company's annual meeting.

A key issue voted down was an independent audit of working conditions at the e-commerce behemoth's warehouses.

Many of the resolutions focused on workers' rights and issues such as further disclosure of the company's lobbying and taxes. The resolutions are nonbinding, but usually pressure corporate boards to take action.

Shareholders also voted to approve compensation packages for six of Amazon’s top executives, including CEO Andy Jassy. Two investor advisory firms, Glass Lewis and Institutional Shareholder Services, had recommended shareholders vote against the pay packages, arguing they were excessive.

Jassy received a compensation package worth about $214 million last year, with nearly all of money coming through Amazon shares to be vested over 10 years. 

The boost in the number of resolutions, which Amazon recommended investors vote against, comes as tech company shareholders push for more transparency on social issues such as pay equity, workplace culture and safety, and sustainability practices.

© 2024 Newsmax Finance. All rights reserved.


StreetTalk
Amazon.com Inc. shareholders on Wednesday voted against all 15 investor-led resolutions that challenged the company's policies - including an audit of its working conditions - at the company's annual meeting.
amazon shareholder proposals, investors, working conditions audit, plastics, contracts, exec comp
182
2022-02-25
Wednesday, 25 May 2022 02:02 PM
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