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L-R: Microsoft CFO Amy Hood, CEO Satya Nadella, President and Vice Chair Brad Smith and VP of Investor Relations Brett Iversen field questions at the company’s virtual annual meeting. (Screenshot via webcast).
Microsoft investors turned down six shareholder proposals at its annual meeting Tuesday, three of them focused on the risks of artificial intelligence to its business.
The other three addressed the potential benefits of Bitcoin, the impact of the company’s technology on human rights, and its role in military applications.
Microsoft’s board opposed all six proposals in its proxy statement in advance of the virtual meeting, citing existing programs and safeguards in each area.
At the conclusion of the business portion of the meeting, Microsoft said none of the shareholder proposals was approved, based on preliminary results. Detailed voting results are expected to be made public within four days, according to the company. Shareholders approved all of Microsoft’s nominees for the board.
It’s unusual but not unprecedented for Microsoft shareholders to approve outside proposals: A 2021 proposal that led to a report on Microsoft’s sexual harassment policies, submitted by Arjuna Capital, was approved by shareholders.
This year, Arjuna submitted one of three proposals focused on artificial intelligence, calling for a report assessing the risks presented by the company’s role in generating or disseminating in AI-related misinformation and disinformation.
Another proposal, led by As You Sow, called for a report on the risks of Microsoft providing AI and other technology for new oil and gas development and production.
A third AI-related proposal, from National Legal and Policy Center, called for a report on “the real or potential unethical or improper usage of external data in the development and training of its artificial intelligence offerings.” It cited Microsoft’s partnership with OpenAI, and the New York Times’ suit against the companies, among other issues.
