Amazon Shareholders Vote Against All 14 Outside Proposals That Include Disclosing Carbon Emissions, Directors' Donations

By Jace Dela Cruz

May 23, 2024 02:03 AM EDT investors have voted down all 14 resolutions that called for increased transparency on carbon emissions, directors' donations, and the establishment of a committee to manage AI development.

According to Reuters, the preliminary vote results were announced on Wednesday at Amazon's annual shareholder meeting, where all 12 directors were re-elected for another term.

This illustration photograph taken on October 30, 2023, in Mulhouse, eastern France, shows figurines next to a screen displaying a logo of Amazon, a US multinational technology e-commerce company.
(Photo : SEBASTIEN BOZON/AFP via Getty Images)

Amazon Rejects All Outside Proposals

Amazon had urged shareholders to vote against all of the outside proposals. Additional resolutions included creating a committee to tackle the financial impact of policy positions and making reports on lobbying expenditures, packaging materials, and warehouse working conditions. 

At the annual shareholder meeting, Amazon CEO Andy Jassy said that unlike its competitors Meta Platforms and Alphabet, Amazon does not plan to announce a dividend this year. 

Jassy noted that the optimal use of cash is to invest in Amazon's current business ventures, which benefit customers, the company, and shareholders.

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Expanded Generative AI Update of Amazon's Alexa

According to Reuters, Amazon and Tesla are the only major tech companies among the Magnificent Seven that do not offer dividends. 

Jassy also mentioned that Amazon's Alexa voice-assistant service would soon receive an expanded generative AI update and expressed confidence in Amazon's leadership in this field. 

According to CNBC, Amazon also plans to charge customers a monthly fee for using Alexa's generative AI offerings.

READ MORE: Amazon Founder Jeff Bezos Completes Selling Up to 50 Million Shares, Netting $8.5 Billion

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