Amazon adopts policy for increasing diversity in its board

As per a filing by Amazon to the SEC, its board is set to review nominees from diverse candidates which includes minorities.

In a move that aims to promote greater diversity in its Board, Amazon.com stated women and minorities are to be among the nominees in its board.

“The Amazon Board of Directors has adopted a policy that the Nominating and Corporate Governance Committee include a slate of diverse candidates, including women and minorities, for all director openings,” said Amazon in a filing with the Securities and Exchange Commission (SEC).

“We reached this decision after listening to your feedback as well as that from Amazon employees, shareholders, and other stakeholders about the Board diversity proposal,” wrote Brian Huseman, Amazon’s vice president of public policy in a letter to the Congressional Black Caucus.

This new policy follows a shareholder proposal, which was jointly submitted by the Master Trust of the Service Employees International Union and CtW Investment Group, which works with pension funds affiliated with a federation of unions, stating that Amazon’s board has failed to convert verbal support for diversity to practical action.

“Shareholders have long believed that embracing diversity will benefit companies by providing greater access to talent, harnessing existing talent more effectively, and improving decision making by reducing groupthink and similar psychological biases,” the proposal, dated April 27, read.

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Categories: Creativity, Entrepreneurship, HR & Organization, Strategy, Sustainability

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