Amazon.com Inc (NASDAQ:AMZN) shareholders blocked proposals to create better working conditions for warehouse workers and to review its use of plastics.
Investors in the tech giant voted on 19 proposals at its annual general meeting (AGM), of which 15 were put forward by shareholders, the most the company has received for over a decade.
One vote that the company put forward, for a 20:1 stock split, was supported by shareholders and so will be carried out on 3 June.
They included resolutions on whether the company should conduct a third-party audit of warehouse workers' wages and working conditions, carry out a review on the company's use of plastics, review racial equality, risks associated with the use of concealment clauses in contracts, tax transparency, protecting the rights of freedom of association and collective bargaining, and changes to the process used for nominations to the board.
Although many of the resolutions had public support from major investors such as LGIM and Norges Bank, Norway's sovereign wealth fund, they were all defeated. Amazon must disclose the final numbers of the votes by 1 June 2022.
Amazon chief executive officer Andy Jassy, who was appearing at his first AGM since he was promoted to the top job last summer, said the group had introduced measures designed to improve warehouse staff safety, including anti-slip shoes and software to predict and prevent repetitive stress injuries, which were reported about 80% more often amongst Amazon workers than other employees.
Activist investor Tulipshare, which put forward the proposal on the warehouse worker audit, said the vote is “just the beginning” and intends to continue to press for change, including by re-submitting its motion next year.
After the recent unionisation vote by Amazon warehouse workers in Alabama, founder Jeff Bezos, who still owns over 12% of the shares, acknowledged that the company needs “to do a better job for our employees”.
Antoine Argouges, founder of Tulipshare, said: “Whilst we are disappointed that our proposal did not pass today, this vote was just the beginning in the fight for workers' rights. Amazon has not yet disclosed the full outcome of the vote, but based on the positive conversations we have had with major shareholders this week we have every reason to believe our proposal received strong backing. Once the results are published, we will consider our options for continuing the fight for better working conditions at Amazon.”