This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.
This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.
The long-tenured Amazon (NASDAQ: AMZN) executive often pegged as a potential replacement for CEO Jeff Bezos is stepping down. The company reported in an SEC filing submitted on Friday that Jeffrey Wilke, chief of its worldwide consumer unit, will retire in the first quarter of the coming year. Senior Vice President of Retail Operations Dave Clark will be promoted to the position.
While Bezos is considered the face of the company and is almost synonymous with Amazon, Wilke has left his mark. He’s been with the company since 1999, and was promoted to CEO of its worldwide consumer arm in 2016. He’s largely credited with building the company’s logistics capabilities that allow it to control around 40% of North America’s e-commerce market, according to numbers from eMarketer.
Wilke also made a point of ensuring all new employees spent time in fulfillment centers so they would know exactly what happens on the company’s front lines, where products are picked and packed after an online purchase is made. It’s impossible to know just how much that real-world exposure helped to shape Amazon’s operation.
Dave Clark brings a wealth of this frontline experience to the role. He’s held multiple managerial roles at several fulfillment centers, and helped to establish fulfillment centers including the one built in Tokyo, Japan. Clark was also hired by Amazon in 1999 after receiving his MBA, but at 47 years old, is five years younger than Wilke. His age and a slightly different perspective on e-commerce’s advent may also become evident through changes made when he takes over Wilke’s job.
This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.
These stocks could rocket in a Post-COVID world (FREE STOCK REPORT)
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.
Find out the names of our 3 Post COVID Stocks – For FREE!
*Returns as of 6/8/2020
More reading
- If you invested $10,000 in Amazon stock during the coronavirus market crash, this is how much you’d have now
- Zoom Video to soon appear on Amazon, Facebook, and Google smart display devices
- Want to own the FAANG stocks? Here are 3 ways you can
- Scout Security share price soars 91% on new Amazon deal
- How Aussies can buy Warren Buffett shares without paying $445,000
James Brumley has no position in any of the stocks mentioned. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Amazon and recommends the following options: short January 2022 $1940 calls on Amazon and long January 2022 $1920 calls on Amazon. The Motley Fool Australia has recommended Amazon. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The post Prospective Bezos replacement to leave Amazon appeared first on Motley Fool Australia.
This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.
from Motley Fool Australia https://ift.tt/2CZjrGQ
Leave a Reply