A top Amazon executive once speculated to be Jeff Bezos’ successor is stepping down, according to a new report.
CEO of Amazon’s Worldwide Consumer division Jeff Wilke will be retiring early next year, the New York Post reported on Friday. He is reportedly expected to be replaced by his second in command, Dave Clark. An inside source told the Post that Wilke, 52, decided to retire on his own terms after working for the company since 1999. There are no reported signs of a power struggle that pushed him out.
Jeff Bezos, president and CEO of Amazon and owner of The Washington Post, speaks at the Economic Club of Washington DC’s “Milestone Celebration Dinner” in Washington, U.S., Sep. 13, 2018. REUTERS/Joshua Roberts/File Photo – RC2XKE9BMIBW
One of Wilke’s last remaining projects before he retires is to oversee the installation of cashier-less technology at Amazon Go and Whole Foods stores, per the Post. This is expected to allow customers to dodge the register for their purchased items. (RELATED: Amazon Starts Online Pharmacy In India That Sells Drugs)
“Amazon Go proved out the tech, but they can’t figure out how to make those stores profitable,” the source told The Post. “But Whole Foods prints cash, and with healthy margins, too.”
Amazon has recently received criticism for its significant increase in revenue in 2020 despite the global pandemic. The company’s second-quarter earnings increased by 40% compared to the same period in 2019. (RELATED: Bezos Has Record-High Single-Day Wealth Increase, Adds $13 Billion)
Bezos testified on Capitol Hill with other big tech CEOs in July regarding potential antitrust measures.
During the hearing, Bezos said he could not confirm that Amazon refrained from using its consumer’s data to determine what products to make for its private-label goods, which raised some concerns about possible monopoly practices.