Two investment advisory firms — ISS and Glass Lewis — encouraged Amazon shareholders to vote against “excessive” executive pay packages at the company’s annual meeting on May 25.
ISS — the world’s largest investment advisory firm — wrote in a report Thursday that new CEO Andrew Jassy’s hefty compensation package for 2021 was divorced from any performance criteria.
“The value of the new CEO’s $214 million award is excessive in the context of an internal promotion,” ISS said. “The compensation program lacks any connection to objective, pre-determined performance criteria.”
Jassy, who rose to Amazon’s top spot in July, received $214 million in total compensation in 2021, almost all of which was stock that would vest over the next 10 years.
Jassy joined Amazon in 1997 as Marketing Manager and in 2006 helped launch AWS, which he led until his promotion to CEO last year.
ISS also highlighted the high compensation of new AWS boss Adam…