Amazon CEO of Worldwide Consumer Dave Clark resigns

Amazon CEO of Worldwide Consumer Dave Clark resigns


Dave Clark, Amazon’s senior vice president of worldwide operations.

Lindsey Wasson | Reuters

Dave Clark, CEO of Amazon’s worldwide consumer business and a top lieutenant of Andy Jassy, will resign July 1 after 23 years at the company, Amazon announced in a regulatory filing Friday.

Clark is one of a handful of the most important executives at Amazon, overseeing the company’s sprawling retail business. He took over the role in 2020 after Jeff Wilke stepped down, previously serving as Amazon’s senior vice president of retail operations.

Clark quickly rose through the ranks at Amazon, joining the company in 1999 in its operations division. He is credited with scaling Amazon’s fulfillment and logistics programs, which have become the backbone of its retail business. His sharp eye for identifying weaknesses in its logistics operations earned him the nickname internally of “The Sniper,” Bloomberg reported.

As CEO of Amazon’s worldwide consumer business, Clark oversees a number of key units, including online stores, physical stores, the marketplace of third-party sellers, and the 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 experienced explosive growth during the coronavirus pandemic amid an overall e-commerce boom, but the business has started to show some cracks in recent quarters.

Clark’s departure comes two days after Sheryl Sandberg announced that she’s leaving her role operating chief role at Facebook parent Meta after 14 years.

This is breaking news. Please check back for updates.



Source

Jim Cramer says the market powered through a tough earnings week but ‘that doesn’t mean we’re out of the woods yet’
Technology

Jim Cramer says the market powered through a tough earnings week but ‘that doesn’t mean we’re out of the woods yet’

CNBC’s Jim Cramer said the market just powered through the toughest week of earnings “with flying colors,” but warned that next week could be even more treacherous. “All the big techs did well … Everything connected with the data center went bonkers,” the “Mad Money” host said. However, he cautioned against complacency. “That doesn’t mean […]

Read More
The market isn’t grading all Big Tech earnings the same — here’s why
Technology

The market isn’t grading all Big Tech earnings the same — here’s why

In this Club Check-in, CNBC Investing Club’s Paulina Likos and Zev Fima break down what really matters for investors after a flurry of earnings reports that highlighted both strong demand for artificial intelligence infrastructure and a continued surge in spending. The AI trade faced a major test this week as several of the key hyperscalers […]

Read More
Roblox shares plummet 18% as child safety measures weigh on bookings
Technology

Roblox shares plummet 18% as child safety measures weigh on bookings

Roblox shares plummeted 18% on Friday after the company reported first-quarter earnings as its new child safety measures weighed on bookings. “Part of what we’re rolling out with age check, we believe, is the real, right long-term way to build this platform,” CEO David Baszucki said Friday on CNBC’s “Squawk Box.” In a letter to […]

Read More