Another veteran announced his resignation! Amazon's second-in-command Dave Clark will step down on July 1!

It is learned that Dave Clark, the CEO of Amazon's retail business, a veteran figure of Amazon, announced his resignation. According to the regulatory documents submitted, Clark will step down on July 1 and has not appointed a successor. After the news was announced, Amazon's stock price fell 2.52%. It is reported that this is another high-profile personnel change news after Sheryl Sandberg, the second-in-command of Meta, announced her resignation recently. The resignation of these two veterans occurred at a time of widespread stock sell-off in the industry. Meta's stock price has fallen by more than 40% since the beginning of the year, and Amazon's stock price has fallen by about 28%.

Clark joined Amazon in 1999, fresh out of an MBA program when the company was still in the early stages of expanding its business. Since last year, the executive has been rapidly promoted from operations manager in Kentucky to responsible for all of Amazon's retail, logistics and other consumer-facing businesses.

During his tenure, Clark oversaw Amazon's online store and built out the network of warehouses, delivery fleets and airplanes that gave the e-commerce giant an unmatched advantage in delivery speeds and the strength to develop its Prime membership program.

Amazon's current CEO Andy Jassy said, "Dave has a growing influence on the entire company, not only leading the establishment of a large team for internal delivery operations, but also a scale comparable to giants such as FedEx and UPS." He added that preparations will be made for Clark's departure in the coming weeks.

Clark said it has been “a privilege” to have worked from the ground up and to have watched Amazon become the retail giant it is today. “The success we’ve had over the years is a direct result of Amazonians from across the company coming together to provide the best experience for our customers.”

Amazon founder Jeff Bezos stepped down in early July 2021, giving way to Andy Jassy, ​​his most trusted partner and head of the AWS cloud division. Under Jassy's leadership, Amazon's rapid development during the epidemic was widely praised by investors, but investors were also shocked by rising costs in the face of rising inflation and supply chain challenges. Amazon reported that its redundant warehouse space had caused losses of no less than $10 billion in the first half of 2022.

Amazon said in its latest quarterly earnings report that sales in its online store division declined and its overall operating income was well below Wall Street expectations. After two years of unprecedented active recruitment, with 1.7 million employees, it is now facing an embarrassing situation of overstaffing and too much warehouse space. Its large workforce and related productivity expenses increased Amazon's operating costs by $2 billion in the first quarter.

Editor ✎Estella/

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