Amazon CEO Jeff Bezos should not be his own boss, SumOfUs
Ahead of Amazon’s annual general meeting of shareholders, proxy advisor firm, Institutional Shareholder Services, has come out in support of a SumOfUs-lead shareholder resolution calling on the e-commerce to separate the role of CEO and Chair of the Board.
Jeff Bezos currently holds both positions. “There is a clear conflict of interest when a corporation’s board of directors, which is responsible for overseeing the CEO and representing shareholders, is chaired by that same CEO,” says Lisa Lindsley, Capital Markets Advisor at SumOfUs. “An independent board chair is a necessary first step to put Amazon’s board on the path to effective representation of the interests of all shareholders.”
She adds: “Independent board leadership would be particularly useful at Amazon in providing more robust oversight regarding the company’s association with right wing organisations, including NRATV and Breitbart. In addition, Amazon has faced increased criticism for workforce exploitation, tax avoidance, and monopolistic practices. Independent board leadership would result in improved policies and practices to mitigate these risks.”
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