April 14, 2022 | Editor: Martin Wennerström
Amazon investors to vote on warehouse labor audit
Amazon’s May 25 AGM will consider a shareholder proposal calling for an independent audit of the firm’s treatment of warehouse workers, following a refusal from the SEC the exclude the proposal from the ballot. The regulator’s backing of the proposal is in line with its guidance published last year, which facilitates AGM votes on investor proposals that concern social and environmental issues. Notably, the e-commerce giant has faced criticism over working conditions and anti-union measures. Most recently, Amazon warehouse workers on Staten Island, New York, voted on April 1 to form a union – the first one for Amazon staff in the US. In response, the company filed an objection with U.S. authorities, accusing the organizers of having used coercion to attain the requisite level of support.
Elon Musk makes unsolicited bid for Twitter
Netherlands to oppose CEO pay at Air France-KLM’s AGM
Dutch Finance minister Sigrid Kaag
has described the proposed 2021
compensation for Air France-KLM's
CEO as "incomprehensible" in light of
the airline’s EUR 3.3 billion losses
during the COVID-19 pandemic. The
minister added that the Dutch state,
owner of a 9.3% stake in the firm,
would vote against the CEO’s pay at
the May AGM. Notably, the airline has
benefited from large state financial
support, including a EUR 3.4 billion
government-backed bailout package
in 2020. The company stated that
bonuses will be deferred, and no
variable remuneration will be paid out
until the repayment of at least 75% of
the recapitalization funds.
Russia approves delisting of foreign-traded Russian securities
Governance in Brief – May 25, 2022
Woodside shareholders approve BHP deal Woodside Petroleum’s 2022 AGM has approved the company’s merger with BHP Group’s petroleum business. The merged entity will change its name to Woodside Energy Group Ltd. and will be one of the world’s largest fossil fuel energy producers.
Governance in Brief – May 19, 2022
Moderna’s new CFO leaves after just one day in office Moderna has announced the departure of its newly appointed CFO Jorge Gomez, one day after his official instatement. His departure comes after his former employer, Dentsply Sirona, announced an internal probe into its recent quarterly financial reporting, and in particular the way it accounted for sales incentives.
Governance in Brief – May 12, 2022
TotalEnergies faces shareholder pressure to boost climate targets A group of TotalEnergies shareholders has requested that the firm tighten its greenhouse gas reduction targets to better align its climate strategy with the Paris Agreement. The proponents contend that the proposal would make Total the first oil and gas firm to align its 2030 targets with the agreement’s 1.5°C goal.