David Clark, the executive responsible for transforming Amazon into a global delivery force, is leaving his role as chief executive of its consumer business after 23 years at the world's biggest e-commerce company.
The Seattle-based company, one of the most valuable in the world, made the announcement in a regulatory filing to the US Securities and Exchange Commission on Friday. Amazon said the resignation is effective from July 1, but did not elaborate.
Mr Clark, in an e-mail to his team he posted on his Twitter and LinkedIn accounts, said he had thought over leaving “for some time” and wanted to return to building, acknowledging that he was able to “hone those skills” while at Amazon.
“Success is rarely achieved alone and this was absolutely true for me at Amazon. The successes we enjoyed over the years were a direct result of Amazonians coming together from across the company to deliver the best experience possible to our customers,” wrote Mr Clark, who was responsible for building a delivery operation that rivalled FedEx and United Parcel Service.
“I have discussed my intent to transition out of Amazon with my family and others close to me, but I wanted to ensure the teams were set up for success.”
Mr Clark's departure is the latest in a number at Amazon, which had for years been under the stewardship of veteran leaders. Those who have left included vice presidents and even its founder, billionaire Jeff Bezos.
It is also the second high-profile exit by an executive at a major technology company this week. Sheryl Sandberg, the No 2 at Facebook owner Meta Platforms who helped grow the company into the world's largest social media platform, on Wednesday announced that she was stepping down after 14 years of service.
Andy Jassy, who replaced Mr Bezos as chief executive last year, is expected to appoint Mr Clark's replacement in the next few weeks.
Mr Clark said in his statement that he was confident of his timing to leave now.
“We have a great leadership team across the consumer business that is ready to take on more as the company evolves past the customer experience challenges we took on during the Covid-19 pandemic,” he said.
Mr Clark was instrumental in guiding Amazon during the Covid-19 pandemic, in which he implemented several changes — reportedly at around 150 — from social distancing to installing temperature scanners at Amazon warehouses.
He also had to deal with a number of challenges, including scrutiny of Amazon's safe working conditions and fending off the increase in the organising of labour unions. He was never shy in his defence of Amazon, at times even talking directly to critics.
More recently, Mr Clark had to deal with worker shortage and higher fuel prices, which led to Amazon's first fuel and inflation surcharge on merchants, who pay the company to fulfill their products in the US, among other measures to address rising inflation and costs.
Mr Clark said, however, that Amazon has a “solid multi-year plan to fight the inflationary challenges we are facing in 2022".
Michael Indresano, a former Amazon logistics vice president who was under Mr Clark, said Mr Clark came up with the idea of acquiring planes to give the company more control over shipping, promoted the use of robots and “took risks that others wouldn't consider”.
Mr Clark joined Amazon in May 1999, a day after graduating from business school. His role was an operations manager in Kentucky then he quickly ascended the ranks, eventually running all of Amazon's retail, logistics and other consumer-facing businesses.
Reuters contributed to this report
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What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
Other acts on the Jazz Garden bill
Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
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