Amazon’s shareholders reject the proposal to share the CEO and the role of the chairman

Amazon The shareholders rejected the proposal to accept a policy that will require the CEO and the role of the Council to stay separate.

Voting results disclosed in application application On Thursday it was shown that about 82% of shareholders rejected the proposal. Independent proposal was filed along with seven others in Amazon’s annual meeting Wednesday. Each of the independent proposals was rejected.

Amazon shared the role of CEO and Chairman of the Board when founder Jeff Bezo turned the helm In 2021 Andy Yasi in 2021. Within the framework of the transition, Bezos retained the title of executive chairman.

The proposal sought to codify this structure in Amazon, “like most S&P 500 companies,” the accountability council wrote. The group claimed that Split Struct allows the Council to focus on corporate management and supervision, while the CEO focused on the company’s business.

“Given the positions currently divided, it will now be a convenient time for this,” the proxy said.

Proposals of shareholders seeking the division of the Council and the role of the CEO has increased in recent years. According to data The Harvard Law School forum on corporate management.

Amazon called on shareholders to vote against the proposals, saying that the current policy allows the council to determine the right leadership for the company “in light of our specific circumstances at any time”.

The division in 2021 took place “after careful consideration” of the structure and functions of the Amazon leadership, the company writes in its recommendation.

“In the light of our success through these different structures, the Council believes that shareholders are better serving the advice, maintaining the ability to adapt to our developing needs and to realize the optimal leadership structure at any moment,” Amazon wrote in the application.

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