Amazon investor proposal to review plastic use narrowly fails to clear
Amazon.com Inc's investor-led proposal to review its use of plastic won 49% support
Amazon.com Inc'sinvestor-ledproposaltoreviewitsuseofplasticwon 49 per centsupport even as shareholders voted down all the 15 resolutions at the e-commerce giant's annual general meeting, a regulatory filing showed on Friday.
It was the onlyproposalthat came close to reaching the 51% mark for approval.Investors opposed resolutions that challenged the company's policies on various issues, including the treatment of workers anduseof non-disclosure agreements.
To be sure, about 13% of the company's voting stock is controlled by Founder and Executive Chairman Jeff Bezos, raising the bar for any effort to win a majority ofinvestorsupport.
Theproposalfor a report on whetherAmazoncloud, surveillance and other capabilities contribute to human rights violation won 40% support. But an overwhelming 87per centvoted down aproposalcallingAmazontoreviewworker safety.
Only 39per centof votes were in favor of a resolution related to unionisation of workers, but 47per centbacked a report on whetherAmazon's lobbying activities were consistent with the best interest of the shareholders.
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A move toreviewAmazon's facial recognition technology got 41per centvotes in favor, while a report for more details on gender and racial pay managed to get support from just 29% of the shareholders.
The resolutions are non-binding, but companies often take some form of action if they receive backing of 30to 40per centof votes cast.
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