Connect with us

Hi, what are you looking for?

Stock

Amazon pressed for racial equity review after strong vote tally

Stock Markets15 hours ago (May 28, 2021 08:36PM ET)

(C) Reuters. FILE PHOTO: The Amazon logo is seen outside its JFK8 distribution center in Staten Island, New York, U.S. November 25, 2020. REUTERS/Brendan McDermid.

By Ross Kerber

(Reuters) -Amazon.com Inc should review how it is addressing racial justice and equity after a shareholder proposal on the topic won strong backing, New York state’s top pension official said on Friday.

A filing on Friday showed 44% of votes cast supported a call for a review of the company’s impact on equity, diversity and other areas proposed by New York State Comptroller Thomas DiNapoli at Amazon (NASDAQ:AMZN)’s annual meeting on May 26, a high total for such a measure.

DiNapoli said the measure would have received a majority but for the 14% stake held by CEO Jeff Bezos, a sign of investor dissatisfaction at the leading online retailer.

“Shareholders sent a loud message to Amazon that they want the company to do more to address racial diversity, equity and inclusion. It’s time for Amazon to listen to its investors,” DiNapoli said in an emailed-statement.

Amazon had previously said the measure did not win a majority but it did not give the voting breakdown.

An Amazon representative said the company has “initiated numerous programs to assess and address racial justice considerations across key aspects of our operations that we believe fully address the objectives of this proposal.”

The call for the racial equity audit received the highest level of support among 11 shareholder proposals at Wednesday’s meeting.

Another, calling for Amazon to consider adding an hourly worker to its board of directors received support from 17% of votes cast, the filing showed.

Proposals with such low levels of support are rarely adopted, although the figure was about twice what similar calls for workers-on-boards have received at other companies in recent years.

The measure, which received a rare endorsement from Institutional Shareholder Services, was closely watched at the annual meeting after a union organizing effort at the company failed in April.

Amazon pressed for racial equity review after strong vote tally

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

World News

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered...

World News

George Soros and Bill Gates are part of a consortium acquiring a British developer of rapid-testing technology, including for Covid-19 and tropical diseases,...

Tech

If you parked your car in one of the thousands of parking spots across Calgary, there’s a good chance you paid the Calgary Parking...

Investing

ForexMay 27, 2021 02:04AM ET (C) Reuters. By Peter Nurse Investing.com — The dollar edged higher in early European trade Thursday, finding support from...

Disclaimer: Yourmorningvoice.com it's managers and its employees (collectively "The Company") do not make any guarantee or warranty about what is advertised or above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. Copyright © 2021 Your Morning Voice. All Rights Reserved