Amazon CFO Thomas Szkutak to Retire
Brian Olsavsky will succeed him at the e-tail and online video company
Amazon.com is preparing to hand over financial management duties to a new CFO.
Veteran finance head Thomas Szkutak, a fixture on Amazon's earnings conference calls, will retire from the position in June 2015, the e-tail and online video giant said on Wednesday.
Brian Olsavsky, currently vp finance for the company's global consumer business, will succeed him as CEO. He will report to Amazon founder and CEO Jeff Bezos.
Szkutak, 53, has overseen the financial affairs of Amazon since joining the company in October 2002. The two executives will work together to ensure a seamless transition over the next 10 months.
"Tom's impact over the past 12 years is evident in every part of our business," said Bezos. "Under Tom's stewardship, customers have benefited from category expansion and geographical expansion, along with amazing new businesses like AWS and Kindle."
Szkutak said: "I look forward to spending more time with my family and other outside interests." He also expressed his "confidence" that his successor would "be a great CFO for Amazon.com."
Olsavsky joined Amazon in April 2002 as vp finance. He has since held various financial leadership roles across the company. Before coming to the company, he worked for biotechnology and laboratory supply firm Fisher Scientific International in a variety of financial and business management roles.
Amazon has been investing in pilots for original shows, among other new initiatives. The CFO has also played a key role in such acquisitions as the recently announced deal for live-streaming service Twitch for nearly $1 billion.