Amazon CFO to Retire Mid-2015

By FOXBusiness

Amazon (NASDAQ:AMZN) announced Wednesday Thomas Szkutak, its chief financial officer, will retire from the company in June 2015.

Szkutak has been in the role since he joined the e-commerce giant in October 2002. Brian Olsavsky, vice president of finance for the company’s global consumer business, will succeed Szkutak as CFO.

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“It’s been a privilege for me to work with so many talented people who are continually inventing on behalf of customers, and now I look forward to spending more time with my family and outside interests,” Szkutak said in a press release.

Amazon CEO Jeff Bezos said the company has greatly benefitted from Szkutak’s work, outlining his accomplishments in category and geographical expansion of the company.

“The day Tom joined the company was a very lucky one for Amazon’s shareholders and customers and for all of us who’ve had the pleasure and fun of getting to work with him,” Bezos said in a statement.

Szkutak said he had confidence in his successor’s ability to lead from the CFO position, and has “seen firsthand how talented he is.” Olsavsky joined the e-commerce giant in April 2002 as vice president of finance.

Shares of Amazon were flat in pre-market action following the announcement.

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