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Amazon.com investors reject all 14 outside proposals at meeting
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Amazon.com investors reject all 14 outside proposals at meeting
May 22, 2024 12:44 PM

May 22 (Reuters) - Amazon.com ( AMZN ) investors voted

against all 14 resolutions that asked the retailer to disclose

more about its carbon emissions and its directors' donations,

and to form a committee to oversee artificial-intelligence

development, among other issues.

Amazon ( AMZN ) announced the preliminary vote at its annual

shareholder meeting on Wednesday, where all 12 directors were

voted in for an additional term.

The company had asked shareholders to reject all of the

outside proposals. Additional resolutions sought to have Amazon ( AMZN )

create a committee to address the financial impact of policy

positions and produce reports on lobbying expenditures,

warehouse working conditions and packaging materials.

CEO Andy Jassy appeared to indicate Amazon ( AMZN ) has no plans to

announce a dividend, unlike this year's moves by its rivals Meta

Platforms ( META ) and Alphabet. "We are convinced the

best use of cash for customers and business and shareholders is

investing in businesses in which we're pursuing," he said during

a question-and-answer session.

Amazon ( AMZN ) and Tesla remain the only members of the

so-called Magnificent Seven tech stocks that do not offer

dividends.

Jassy also said that Amazon's ( AMZN ) Alexa voice-assistant service

would receive a "more expansive" generative AI update. "I am

optimistic we'll be a leader here," he said. CNBC reported

earlier on Wednesday that Amazon ( AMZN ) is considering charging

customers a monthly fee for use of Alexa's generative AI

offerings.

Amazon ( AMZN ) will later provide a full tally of the investor vote

in a securities filing.

Shares in the retailer were virtually unchanged on Wednesday

and had gained 22% so far this year.

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