Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Amazon pressed for racial equity review after strong vote tally

Stock MarketsMay 28, 2021 08:36PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© 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
 

Related Articles

Miners, weak earnings drag European stocks lower
Miners, weak earnings drag European stocks lower By Reuters - Oct 21, 2021 3

By Anisha Sircar (Reuters) -European stocks retreated from six-week highs on Thursday, with miners leading the declines on renewed concerns about China's property sector, while...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (5)
Klaus Weyers
Klaus Weyers May 30, 2021 6:09PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
So many seem to focus on race.. seems rather racist to me.. should we not focus on competence and quality instead of skin color?
Steve Lora
Steve Lora May 30, 2021 10:57AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Most of their new hiring came from low education black colleges who had their loans forgiven, although their college minority give away grants covered their college bill
Shivaji Suryawanshi
Shivaji Suryawanshi May 30, 2021 2:20AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Lewis Edward
Lewis Edward May 29, 2021 3:41AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I strongly support this. I hope all these "woke" companies crumble under the weight of the woke BS that they have been promoting. Leftists are the worst employees that a company could have, so these companies deserve their own demise for creating them.
Pat Mathieu
Pat Mathieu May 28, 2021 11:56PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
"racial equity" is the latest concept from the Wall street's Left to ***America's middle class
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
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.
Continue with Google
or
Sign up with Email