Amazon Worldwide Consumer CEO Dave Clark resigns

Dave Clark, senior vice president of global operations at Amazon.

Lindsey Wasson | Reuters

Dave Clark, CEO of Amazonof the global consumer company and a top lieutenant to CEO Andy Jassy, ​​will step down on July 1, after 23 years with the company, Amazon announced in a regulatory filing Friday.

Amazon has not named a replacement for Clark. In a blog post Announcing his exit, Jassy said Amazon is firming up a succession plan for Clark and will announce an update “in the coming weeks.”

“The past few years have been some of the toughest and most unpredictable we’ve encountered in Amazon’s consumer business history, and I particularly appreciate Dave’s leadership during this time,” Jassy said.

In a tweet, Clark said he felt it was a good time to leave Amazon.

“As much as I loved the ride, it’s time for me to say goodbye to start a new journey,” Clark said in an email to employees, which he shared on Twitter. “For some time I discussed my intention to leave Amazon and with my family and others close to me, but I wanted to make sure the teams were in place to be successful. has come.”

Clark is one of Amazon’s few most important executives, overseeing the company’s sprawling retail business, and a member of Jassy’s S-Team, a tight-knit group of more than a dozen. senior executives from nearly every area of ​​Amazon business. He returned to the role in 2020 after Jeff Wilke resigned.

As CEO of Amazon’s global consumer business, Clark oversees a number of key units, including online stores, brick-and-mortar stores, third-party seller marketplace and Amazon Prime subscription business, all of which generated more than 75% of Amazon’s revenue in the quarter ended March 31.

Amazon’s retail unit has seen explosive growth during the coronavirus pandemic amid a general e-commerce boom, but the company has started to show cracks in recent quarters. In April, Amazon said revenues grew 7% in the first quarter, compared to a 44% expansion in the same period a year earlier.

On Friday, Jassy said Amazon was focused on improving its consumer business, a sentiment he echoed at the company’s annual shareholder meeting last week. He tell the shareholders Amazon is “working hard” to cut costs and improve profitability in its retail business.

Clark joined the company’s operations division in 1999 and quickly rose through the ranks. He is credited with scaling Amazon’s fulfillment and logistics programs, which became the backbone of its retail business. His keen eye for identifying weaknesses in his logistics operations earned him the in-house nickname “The Sniper”. Bloomberg reported.

Clark is the latest member of Bezos’ former inner circle to leave the company. Wilke, who was the head of the consumer sector and seen as a potential successor to Bezos, announced his departure in 2020 and resigned last year. Steve Kessel, who built the original Kindle and then took over the physical store division, said to employees at the end of 2019 that he was leaving.

Clark is one of Amazon’s highest paid executives. He received total compensation of $56 million last year, compared to $46.3 million in 2020. Almost all of that was in the form of stock awards, as his annual salary is not than $175,000.

In 2021, Clark and Jassy were granted special long-term restricted stock tied to their promotions. Clark received 16,000 restricted shares which were to vest each year until 2025.

Just last week, Amazon shareholders narrowly approved the company’s executive compensation plan for senior executives. Two investor advisory firms had recommended stakeholders reject the plan, saying it was excessive and did not reflect the company’s performance. Only 56% of shareholders voted to approve the compensation packages, down from 81% the previous year.

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