- Amazon.com, Inc AMZN Worldwide Consumer CEO David H. Clark has resigned from the company after 23 years, effective July 1, marking its continued management restructuring.
- Clark oversaw multiple vital units, including online stores, physical stores, the marketplace of third-party sellers, and the Amazon Prime subscription business, all of which generated over 75% of Amazon's revenue in the March quarter, CNBC reports.
- CEO Andy Jassy reiterated Amazon's focus on improving its consumer business, looking to trim costs and improve profitability in its retail business.
- Also Read: Walmart Targets Faster Deliveries Via 4 Fulfillment Centers, Intensifies Rivalry With Amazon
- The departure coincided with Amazon employees' union efforts, safety conditions scrutiny, and pay and productivity tracking, Reuters reports.
- Clark also contended with a crisis of workers willing to fill warehouse jobs and higher gas prices, leading to its first-ever fuel and inflation surcharge on merchants. Clark aggressively defended Amazon on every occasion.
- Jassy acknowledged that Amazon was amid a succession plan for Clark, with an update likely by the next few weeks.
- Jassy mentioned the challenges and unpredictabilities faced in the past few years and his appreciation of Clark's leadership.
- Clark tweeted about his "incredible time at Amazon" and "it's time for me to build again." Clark considered, "it is time for me to say goodbye to start a new journey."
- Amazon share prices are trading lower today as it gears up for its stock split.
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
