After facing public backlash for initially defending its “complex” meritocratic system, Amazon said on Monday it’s implementing a racial diversity rule a left-wing, billion-dollar “activist” investment group pushed on the tech giant.
“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,” Amazon said in its Securities and Exchange Commission (SEC) filing.
Amazon is now applying the “Rooney Rule” to its board of directors hiring process. It first required NFL teams to interview at least one racial minority for head coach and senior football operation positions but is now applied in other industries. . .
CtW Investment Group was described as “an activist shareholder group” by Stefanie Johnsonan, an associate professor at the University of Colorado’s Leeds School of Business, in the Harvard Business Review. . . .
Also in CtW’s “About Us” section is a disclaimer it “does not exercise or seek to exercise any discretionary authority or discretionary control regarding management of any plan, disposition of any plan assets, proxy voting decisions, appointment of plan trustees, or any other aspect of plan management or administration.” (Read more from “Amazon Caves to Democrats’ Racial Diversity Demands” HERE)