Amazon investor proposal to review plastic usage narrowly fails

Amazon.com Inc's investor-led proposal to examine its plastic use won 49% support, even though shareholders rejected all 15 resolutions at the ecommerce giant's annual general meetings. A regulatory filing revealed this on Friday.

Amazon investor proposal to review plastic usage narrowly fails

Amazon.com Inc's investor-led proposal to examine its plastic use won 49% support, even though shareholders rejected all 15 resolutions at the ecommerce giant's annual general meetings. A regulatory filing revealed this on Friday.

This proposal was the closest to the approval threshold of 51%. Investors opposed any resolutions challenging the company's policies, including on workers and non-disclosure agreements.

Jeff Bezos is the founder and executive chairman of the company. This raises the bar for investors who want to support the majority of their efforts.

40% of the support for the proposal to create a report about whether Amazon's cloud, surveillance, and other capabilities are contributing to human rights violations won. A proposal to have Amazon review worker safety was rejected by 87%.

Only 39% of votes were for a resolution on unionization of workers. 47% supported a report about whether Amazon's lobbying activities were in the best interests of shareholders.

Amazon's facial recognition technology was reviewed by 41% of shareholders, while the report on gender pay received support from only 29%.

Although the resolutions are not binding, companies may take action if they get support from 30% to 40% of those who voted.

Investors also supported the company's proposal for approval of executive compensation, election of director nominees, and consideration of a stock split.

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