Amazon shareholders reject oversight proposals as Andy Jassy disputes AI cutback claims
In-depth Amazon coverage from the tech giant's hometown, including e-commerce, AWS, Amazon Prime, Alexa, logistics, devices, and more.
(GeekWire File Photo / Kevin Lisota)
Amazon shareholders on Wednesday rejected all eight independent proposals at the company's annual meeting, including measures seeking greater scrutiny of its climate risks, AI practices, and warehouse working conditions.
Final tallies won't be released until later in the week, but company executives said none of the shareholder proposals received the support needed to pass.
All 12 board nominees were re-elected. Shareholders also approved Amazon's executive compensation plan in an advisory vote and approved the reappointment of Ernst & Young as the company's auditor.
The meeting, held virtually, came as Amazon faced questions about its growing investment in artificial intelligence, the environmental impact of its data centers, and how its warehouse conditions align with its public commitments to worker safety and sustainability.
Shareholder proposals, detailed in the company's proxy statement, included calls for expanded climate disclosures, a third-party audit of warehouse working conditions, stronger board oversight of AI-related human-rights risks, and a policy to ensure political neutrality in advertising.
Proponents called these measures necessary to protect Amazon's reputation and long-term value. Each was opposed by the board and ultimately failed to gain majority support.
The company typically releases the detailed results within a few days of the meeting via an SEC filing.
Answering selected shareholder questions, Amazon CEO Andy Jassy defended the company's AI strategy, and pushed back on a question about cutbacks in its AI investments.
'We have no plans to reduce our AI investment. So that's not accurate,' Jassy said in response to a shareholder question citing reports that Amazon is pulling back on its data center expansion.
Amazon has said the changes are about adjusting the timing and pace of its data center buildout to better match customer demand, not cutting back on overall investment.
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