Amazon elects ex-PepsiCo chief Indra Nooyi to its board
News

Amazon elects ex-PepsiCo chief Indra Nooyi to its board

Amazon, the e-commerce giant,  has elected Indra Nooyi as a new board member. The former PepsiCo chief is the second woman to be added to the Amazon board this month. She will also join the audit committee of the board, according to an SEC filing.

Nooyi will become the fifth female member of Amazon’s 11-person board. Earlier this month Starbuck COO, Rosalind Brewer was elected as a board member.

As a part of the appointment, Nooyi was awarded 549 shares of the common stock. These shares will be given in three equal annual installments starting from May 15, 2020.

Last year, the shareholders of the company complained about the lack of diversity among the board members of the company. Therefore, Amazon promised to include women and minority candidates while the tech behemoth searched for board members.

Amazon’s board now contains five women including Nooyi, Brewer, Jamie Gorelick, Judith McGrath and Patricia Stonesifer.

The tech behemoth recently revoked its plans to establish its headquarters in New York City. The tech giant, in September 2017, had said that it would be bringing over 50,000 jobs in the second headquarters it planned to establish in North America.

Elected officials from across the continent were all fighting to get the firm to their country. New Jersey offered $7 billion in potential credits. The mayor of Atlanta suburb promised to make Jeff Bezos, the Amazon founder, mayor of a new city called Amazon.

Amazon decided that it would split the offices between two places; Arlington in Virginia and Long Island in New York. New York offered incentives which amounted to $1.53 billion and also said the company could apply for $900 million more.

However, the company witnessed some political opposition when it came to senators and city council agreeing to the financial terms. Amazon felt that some of the local and state officials had no interest to negotiate with the company. Many say that this was the reason behind the company suddenly revoking its plans to set up headquarters in New York City.

New York city which anticipated the arrival of Amazon, which would give them an economic advantage, condemned the reversal of the company’s decision. The government and the worker union expressed disappointment at Amazon’s disinterest to work with the community of New York.

Image via Shutterstock

Amazon elects ex-PepsiCo chief Indra Nooyi to its board
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

To Top