.png&w=256&q=75){kind=small}
Amazon investors have proposed an ethical review and said yes to the $212 million CEO salary
Amazon CEO Andy Jesse's first shareholder meeting was an exciting success for Amazon's management and Jesse's bank account. But for activist investors looking to make Amazon more open and transparent, this is nothing...
Updated: 48 months ago2 min read
Amazon's board recommends voting against all proposals.
Amazon CEO Andy Jesse's first shareholder meeting was an exciting success for Amazon's management and Jesse's bank account. But for activist investors looking to make Amazon more open and transparent, this is nothing more than a disaster.
Although the actual voting results have not been released, Amazon's chief advisor David Zapolski told Reuters that shareholders voted against fifteen shareholder resolutions on workplace safety, work organization, sustainability, and fair pay.
Jesse and the board continued to award wins in the form of shareholder approval for board appointments, CEO payouts, and a 20-for-1 stock split. As a result, Jassy's CEO compensation package, tied to Amazon's stock price and delivered primarily as a multi-year stock award, is $ 212 million in 2021.
Amazon said in a statement before the meeting that CEO compensation was highly effective. However, some shareholders recently said they believe the pay scale is unfair and disproportionate to Amazon's average salary. For example, warehouse workers typically earn about $15 per hour.
Shareholder activist defeated
In recent years, Amazon has received a lot of criticism for how it treats its employees and its poor environmental record. But unfortunately, the stories of Amazon workers are part of the spirit of the culture: traffic jam drivers and warehouse workers caught in a tornado are making headlines.
Recent abuses have been aimed at Amazon workers, shareholders, and hourly activists, with their victory in founding a warehouse union in New York after officials forced a new vote over Amazon's intervention.
However, that momentum didn't last long, and just weeks later, Amazon's second warehouse in New York voted against the alliance. Rejecting all stakeholder activist proposals is unlikely to help.
Also Read
McDonald’s Australia Unveils Biggest Menu Shake-Up in 17 Years
Australian Mattress Brand A.H. Beard Falls Into Administration Amid Retail Challenges
New Housing Plan Targets Empty Bedrooms to Ease Property Shortage
Climatic air conditioning melbourne: Lumagreens Solutions
