A look at Andy Jassy's first year as Amazon CEO, as he seeks to reverse some of Jeff Bezos' aggressive pandemic investments, close physical stores, and more
Amid one of the worst stretches for financial performance in Amazon's history, the new CEO is working to cut back the excesses … Tweets: @shiraovide , @paulpage , @danamattioli , @conorsen , @danamattioli , @vader7x , @vader7x , @modestproposal1 , and @markdistef Tweets: Shira Ovide / @shiraovide : A fascinating tale of Amazon executives overestimating demand and now having to cut warehouses and other costs. With on the record interviews with 2 Amazon directors, which is RARE. (With an implicit message blaming Bezos & Clark.) https://www.wsj.com/... Paul Page / @paulpage : In 27 months, Amazon added about as many employees as the entire workforces of UPS and Costco combined. “A lot of wise people said... we need more capacity fast, and we held hands and did it.” https://www.wsj.com/... via @WSJ Dana Mattioli / @danamattioli : A week after confidently presenting his three-year plan to get Amazon out of the tough spot it was in regarding overexpansion to Amazon's board, Dave Clark emailed Andy Jassy his resignation letter a few hours before their planned one on one. https://www.wsj.com/... Conor Sen / @conorsen : “Amazon executives said such criticism was misplaced since many of the decisions leading to Amazon's overcapacity problem were made by Mr. Bezos and other senior leaders.” https://www.wsj.com/... Dana Mattioli / @danamattioli : When Jassy took over in July, $Amzn's stock was at an all-time high and the co was riding a pandemic high. Stock is down 30% since then, and company is dealing with one of the worst financial stretches in its history. Inside Andy Jassy's first year as CEO: https://www.wsj.com/... @vader7x : Covid spike came to roost @vader7x : Amazon overshot the long-term projections for demand from online shoppers. Its new CEO is dialing back its huge expansion in capacity. https://www.wsj.com/... @modestproposal1 : Fascinating article. Two separate Directors go on the record, and unnamed execs concur, in a piece essentially throwing Bezos under the bus, making the case that Jassy is not to blame, and in clean up mode. Bezos too media conscious and savvy not to have tacitly approved it. https://twitter.com/... Mark Di Stefano / @markdistef : It's not every day you see not one, but two board members go on the record (!)to publicly back Amazon's CEO 👀👀👀 https://www.wsj.com/... https://twitter.com/...