In a Stinging Rebuke, Amazon Shareholders Vote 27% of Outside Shares Against Key Board Director

New York, NY – Amazon, Inc.’s (AMZN) leadership faced headwinds at its annual shareholder meeting on Wednesday, according to shareholder vote results on directors published Friday evening.

New York City Comptroller Brad Lander on behalf of the five New York City Retirement Systems, along with New York State Comptroller Thomas P. DiNapoli and Illinois State Treasurer Michael Frerichs, launched a “vote no” campaign in April calling on Amazon shareholders to oppose the re-election of key Amazon directors for their lack of oversight over the company’s human capital management. Outside shareholders voted an estimated 27% of their shares against Director Judith McGrath, chair of the Leadership Development and Compensation Committee.

New York City Comptroller Brad Lander released the following statement:

“A critical mass of shareholders delivered a stinging rebuke to Amazon’s leadership regarding the company’s high injury rates, unsustainable turnover, and blatant violations of workers’ rights to freedom of association. The significant percentage of no confidence votes in Director McGrath, chair of the board committee overseeing workforce issues, show that Amazon must take these concerns seriously. Shareholders, like the New York City Retirement Systems, recognize that the company’s long-term value depends on the wellbeing of its workforce, the second largest in the nation. The Board must demonstrate to investors that they are responsive to shareholders and taking action to address these risks to the company’s long-term value.”

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