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Amazon CEO of Worldwide Client Dave Clark resigns

Dave Clark, Amazon’s senior vp of worldwide operations.

Lindsey Wasson | Reuters

Dave Clark, CEO of Amazon’s worldwide shopper enterprise and a prime lieutenant of CEO Andy Jassy, ​​will resign July 1, after 23 years on the firm, Amazon introduced in a regulatory submitting Friday.

Amazon didn’t identify a alternative for Clark. In a weblog submit saying his exit, Jassy mentioned Amazon is within the strategy of firming up a succession plan for Clark, and can announce an replace “over the subsequent few weeks.”

“The previous few years have been among the many most difficult and unpredictable we have confronted within the historical past of Amazon’s Client enterprise, and I am significantly appreciative of Dave’s management throughout that point,” Jassy mentioned.

In a tweet, Clark mentioned he felt it was the suitable time to depart Amazon.

“As a lot as I’ve liked the trip, it’s time for me to say goodbye to start out a brand new journey,” Clark mentioned in an e mail to workers, which he shared on Twitter. “For a while, I’ve mentioned my intent to transition out of Amazon and with my household and others near me, however I wished to make sure the groups have been arrange for achievement. I really feel assured that point is now.”

Clark is one in every of a handful of an important executives at Amazon, overseeing the corporate’s sprawling retail enterprise, and a member of Jassy’s S-Group, a tight-knit group of over a dozen senior executives from virtually all areas of Amazon’s enterprise. He took over the function in 2020 after Jeff Wilke stepped down.

As CEO of Amazon’s worldwide shopper enterprise, Clark oversees various key items, together with on-line shops, bodily shops, {the marketplace} of third-party sellers, and the Amazon Prime subscription enterprise, all of which generated greater than 75% of Amazon’s income within the quarter ended March 31.

Amazon’s retail unit skilled explosive progress in the course of the coronavirus pandemic amid an general e-commerce increase, however the enterprise has began to indicate some cracks in latest quarters. In April, Amazon mentioned income elevated 7% within the first quarter, in contrast with 44% enlargement within the year-ago interval.

On Friday, Jassy mentioned Amazon is targeted on bettering its shopper enterprise, a sentiment he echoed on the firm’s annual shareholder assembly final week. He informed Amazon shareholders is “working arduous” to deliver prices down and enhance profitability in its retail enterprise.

Clark joined the corporate’s operations division in 1999 and rapidly rose by means of the ranks. He’s credited with scaling Amazon’s achievement and logistics applications, which have develop into the spine of its retail enterprise. His sharp eye for figuring out weaknesses in its logistics operations earned him the nickname internally of “The Sniper,” Bloomberg reported.

Clark is the most recent member of Bezos’ former interior circle to exit the corporate. Wilke, who was head of the buyer enterprise and seen as a possible successor to Bezos, introduced his departure in 2020 and stepped down final 12 months. Steve Kessel, who constructed the unique Kindle after which took over the bodily shops division, informed workers in late 2019 that he was leaving.

Clark is amongst Amazon’s highest paid executives. He acquired complete compensation final 12 months of $56 million, up from $46.3 million in 2020. Nearly all of it was within the type of inventory awards, as his annual wage is simply $175,000.

In 2021, Clark and Jassy have been granted particular long-term restricted inventory tied to their promotions. Clark was issued 16,000 shares of restricted inventory that have been set to vest yearly by means of 2025.

Simply final week, Amazon shareholders narrowly authorized the corporate’s government compensation plan for prime execs. Two investor advisory corporations had advisable stakeholders reject the plan, saying it was extreme and never reflective of firm efficiency. Solely 56% of shareholders voted to approve the compensation packages, down from 81% the prior 12 months.

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