A regulatory statement on Friday indicated that Amazon Inc’s investor-led proposal to evaluate its use of plastic had 49 percent support. Despite shareholders voting down all 15 motions at the e-commerce giant’s annual general meeting.
It was the only proposal that came close to receiving 51 percent acceptance. Amazon investors opposed motions that questioned the company’s policy on various topics. This included worker treatment and the usage of non-disclosure agreements.
To be sure, Founder and Executive Chairman Jeff Bezos controls around 13% of the company’s voting shares, increasing the bar for any attempt to gain a majority of investor support.
A report on whether Amazon’s cloud, surveillance, and other capabilities contribute to human rights violations received 40% approval. However, an overwhelming 87 percent voted against a plan to have Amazon evaluate worker safety.
Only 39 percent of votes were cast in favor of a resolution linked to worker unionization. In comparison, 47 percent supported a report on whether Amazon’s lobbying operations were in the best interests of shareholders.
A motion to study Amazon’s face recognition technology received 41 percent support. However, a report seeking more meaningful information on gender and racial pay received only 29 percent support.
The resolutions are not legally enforceable, but firms frequently take action if they obtain 30 percent to 40% of the vote.
Separately, investors overwhelmingly supported the company’s plan to approve executive compensation, elect director nominees, and propose a stock split by a significant margin.
Visit CxO Global FORUM or CxO News Live for all the latest updates.