Core Points - Amazon shareholders rejected a proposal to separate the roles of CEO and board chair, with approximately 82% voting against it [1][4] - The proposal aimed to align Amazon's leadership structure with the majority of S&P 500 companies, which typically separate these roles for better corporate governance [2][3] - The number of shareholder proposals for separating CEO and board chair roles has increased significantly, with a 113% rise among Russell 3000 companies in the first half of 2023, marking the highest level in a decade [3] Company Position - Amazon maintains that the current leadership structure allows the board to determine the most suitable leadership for the company based on its specific circumstances [4][5] - The separation of roles was implemented in 2021 after careful consideration of Amazon's leadership needs, and the board believes that retaining flexibility in leadership structure better serves shareholders [5]
Amazon shareholders reject proposal to split CEO and chair roles