Dave Clark, Amazon’s senior vice president of global operations.
Lindsay Wasson Reuters
Dave Clark, chief executive of Amazon’s global consumer business and senior lieutenant of chief executive Andy Jesse, will resign on July 1, after 23 years at the company, Amazon said in a regulatory statement Friday.
Amazon did not name a replacement for Clark. In a blog post announcing his departure, Jassi said Amazon was in the process of drawing up a plan for Clark’s succession and would announce an update “over the next few weeks.”
“The last few years have been among the most challenging and unpredictable we’ve encountered in the history of Amazon’s consumer business, and I’m especially grateful for Dave’s leadership during that time,” said Jesse.
In a tweet, Clark said he felt it was time to leave Amazon.
“As much as I enjoy the trip, it’s time to say goodbye to start a new trip,” Clark said in an email to staff, which he shared on Twitter. “I have been discussing my intention to leave Amazon with my family and others close to me for some time, but I wanted to ensure that the teams are prepared for success. I feel confident that the time is now.
Clark is one of a handful of Amazon’s top executives, overseeing the company’s sprawling retail business, and a member of Jassy’s S-Team, a cohesive group of more than a dozen senior executives from nearly every area of Amazon’s business. He took over in 2020 after Jeff Wilk retired.
As CEO of Amazon’s global consumer business, Clark oversees a number of key units, including online stores, physical stores, third-party retailers and the Amazon Prime subscription business, all of which generate more than 75% of Amazon’s revenue. in the quarter ended March 31.
Amazon’s retail division experienced explosive growth during the coronavirus pandemic amid an overall e-commerce boom, but business has begun to show some cracks in recent quarters. In April, Amazon said revenue increased 7% in the first quarter, compared with 44% expansion a year earlier.
On Friday, Jasi said Amazon was focused on improving its consumer business, a feeling he expressed at the company’s annual shareholders’ meeting last week. He told shareholders “Amazon is working hard” to cut costs and improve profitability in its retail business.
Clark joined the company’s operations department in 1999 and quickly rose to the ranks. He is credited with scaling Amazon’s implementation and logistics programs, which have become the backbone of its retail business. His keen eye for identifying weaknesses in his logistics operations earned him the domestic nickname “The Sniper,” Bloomberg reported.
Clark is the last member of Bezos’s former inner circle to leave the company. Wilke, who was the head of the consumer business and was seen as a potential successor to Bezos, announced his departure in 2020 and retired last year. Steve Kessel, who built the original Kindle and then took over the physical stores department, told employees in late 2019 that he was leaving.
Clark is one of Amazon’s highest paid executives. Last year, he received a total compensation of $ 56 million, compared to $ 46.3 million in 2020. Almost all were in the form of share rewards, with an annual salary of only $ 175,000.
In 2021, Clark and Jesse received special long-term restricted shares linked to their promotions. Clark was issued 16,000 shares of limited shares, which were to be provided annually until 2025.
Just last week, Amazon shareholders barely approved a plan to compensate the company’s CEOs for senior executives. Two investor consulting firms 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 the compensation packages, down 81% from the previous year.
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