Last Update: April 14, 2023, 01:48 AM IST
Amazon’s board has recommended shareholders vote against each of the 18 proposals. Last year, a record 15 shareholder proposals were all rejected by investor votes. (file photo)
The proposals cover a variety of topics, including requests to change Amazon’s executive compensation package.
E-retail giant Amazon is facing 18 shareholder offers, breaking its 2022 record of 15 offers, as environmental, social and governance (ESG) focused investors press for more changes at the company. are, according to Amazon’s proxy statement released on Thursday.
The proposals cover a variety of topics, including a request to change Amazon’s executive compensation package, an audit to ensure that Amazon’s technologies are not used for human rights violations and Amazon’s animal welfare policies. Additional reporting of welfare standards.
To win, shareholders need at least 53% of the vote. However, the results are non-binding and Amazon’s board is not required to move forward on the suggestions.
The number of shareholder resolutions across industries has increased since 2020. However, according to a PWC report, support for those proposals fell from 2021 to 2022.
Activist investor TulipShare is forcing another vote this year, forcing the e-retailer to conduct an independent report on its warehouse safety after the US Department of Labor’s Occupational Safety and Health Administration found workplace safety violations at six warehouses across the country. expected to do.
The report will detail the impact of “(Amazon’s) policies, management, performance metrics and goals,” according to TulipShare’s proposal. TulipShare won 44% of investors’ votes in 2022.
TulipShare owns 13 shares of Amazon stock, or about $7,000.
Natasha Lamb, managing partner and co-founder of Arjun Capital, said she was particularly interested in TulipShare’s proposal because of the “security improvements that need to be made.”
She said it was “quite remarkable” for the firm to receive 44% of the vote in 2022.
Arjuna Capital’s proposal for Amazon to report on the average pay gap between race and gender received 22% of the vote in 2022 and has been refined and posted for this year’s proxy vote.
Amazon’s board has recommended shareholders vote against each of the 18 proposals. Last year, a record 15 shareholder proposals were all rejected by investor votes.
Although Amazon has a record number of proposals on the ballot this year, it is not the most proposals submitted to the company by shareholders. Amazon may challenge the submission with the Securities Exchange Commission or negotiate with investors to provide audits and reports outside of the annual shareholder meeting.
The proposals will be voted on during Amazon’s annual meeting on May 24.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)
