Dave Clark, senior vice president of global operations at Amazon.
Lindsey Wasson | Reuters
Dave Clark, CEO of Amazon’s global consumer business and chief lieutenant of CEO Andy Jassy, will resign on July 1, after 23 years in the company, Amazon announced in a regulatory presentation on Friday.
Amazon did not name a replacement for Clark. In a blog post announcing its release, Jassy said Amazon is in the process of announcing a succession plan for Clark and will announce an update “in the coming weeks.”
“The last few years have been some of the most challenging and unpredictable we’ve faced in the history of Amazon’s consumer business, and I especially appreciate Dave’s leadership during that time,” Jassy said.
In a tweet, Clark said he thought it was the right time to leave Amazon.
“As much as I enjoyed the trip, it’s time for me to say goodbye to starting a new journey,” Clark said in an email to employees, which he shared on Twitter. “For some time now, I’ve been talking about my intention to make the transition from Amazon and my family and others close to me, but I wanted to make sure the teams were ready to succeed. I’m sure now it is time “.
Clark is one of Amazon’s few top executives, overseeing the company’s extensive retail business, and a member of Jassy’s S-Team, a close-knit group of more than a dozen senior executives from almost every area of Amazon’s business. He took over the role in 2020 after Jeff Wilke stopped working.
As CEO of Amazon’s global consumer business, Clark oversees a number of key units, including online stores, physical stores, the third-party retailer market, and the Amazon Prime subscription business, 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 a general e-commerce boom, but the business has begun to show some cracks in recent quarters. In April, Amazon said revenue rose 7% in the first quarter, compared to a 44% expansion in the period last year.
On Friday, Jassy said Amazon is focused on improving its consumer business, a sentiment echoed at the company’s annual shareholders’ meeting last week. He told shareholders that Amazon is “working hard” to reduce costs and improve the profitability of its retail business.
Clark joined the company’s operations division in 1999 and quickly rose through the ranks. He is credited with scaling up Amazon’s compliance and logistics programs, which have become the backbone of his retail business. His keen eye to identify weaknesses in his logistics operations earned him the internal nickname “The Sniper,” Bloomberg reported.
Clark is the last member of Bezos’ former inner circle to leave the company. Wilke, who was the head of the consumer business and considered a possible 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, told employees in late 2019 he would be leaving.
Clark is one of Amazon’s highest paid executives. Last year he received a total compensation of $ 56 million, more than the $ 46.3 million in 2020. Almost everything was in the form of stock awards, as his annual salary is only $ 175,000 .
In 2021, Clark and Jassy received special long-term restricted shares linked to their promotions. Clark received 16,000 restricted shares that were to be acquired annually by 2025.
Last week, Amazon’s shareholders narrowly approved the company’s executive compensation plan for top executives. Two investor advisory firms had advised stakeholders to reject the plan, saying it was excessive and did not reflect the company’s performance. Only 56% of shareholders voted in favor of compensation packages, down from 81% the previous year.