Demand accountability from Amazon's board

If you are invested in a mutual fund that holds shares of Amazon stock, you can instruct the mutual fund or its investment manager how to vote your shares. With just a few clicks, you can send a pre-populated letter to Goldman Sachs, encouraging them to vote against the reelection of Directors Huttenlocher and McGrath.

To whom it may concern,

As a client of Goldman Sachs, I urge you to vote “AGAINST” the reelection of two directors to Amazon’s board – Daniel P. Huttenlocher and Judith A. McGrath – at the company’s annual meeting on May 25. 2022.

Amazon is the second-largest employer in the United States, and the well-being of its workforce has a significant impact on 1.6 million workers, their households, the long-term success of the company, and the economy as a whole. I believe the ability to establish and maintain robust human capital management is the hallmark of a sound, sustainable, and profitable strategy for Amazon. Moreover, effective and independent board oversight of the company’s human capital is fundamental to the creation of long-term shareholder value.

I urge you to vote “Against” directors Huttenlocher and McGrath for the following reasons:  
Despite repeated requests, the Committee has not met with institutional investors to discuss possible improvements to its human capital management oversight and disclosure.
The Committee has not adequately overseen health and safety, with adverse consequences for Amazon and its employees.
Amazon's labor practices, repeatedly investigated by regulators, have been found to violate state and federal law and also conflict with Amazon's own human rights policy.
Unusually high employee turnover relative to peer companies has some Amazon executives worried about running out of hirable employees in the U.S.

Further, the Committee's decision to grant the company’s five highest-paid executives approximately $400 million in compensation in 2021, including $212 million in time-vested restricted stock to new CEO Andrew Jassy, exacerbates our concerns about where the Committee’s priorities lie. Amazon’s 6,474-to-1 CEO-to-median-compensated-employee ratio confirms these concerns.

I urge you to join the New York City Retirement Systems, the New York Common Retirement Fund, the Office of the Illinois State Treasurer, and other institutional investors in voting “AGAINST” directors Huttenlocher and McGrath.

Sincerely,

Andra

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