Vision vs Headwindsīeyond macro and market headwinds, the underlying legacy question also delves into vision, in as much as Tim Cook was able to grow Apple after the departure of Steve Jobs. There is also the reality of growing impatience by long-term investors who have seen the value of their holdings fall by 45% since Jassy’s promotion to the lead job, compared to a 5% slide by the S&P 500.įurther delineating that market performance pain is that shares of rival retailer Walmart are up 4% during that same 19-month period. In the short term, the column points out, Jassy faces the ongoing need to cut costs at the company following its unprecedented COVID-related expansion in which it doubled its fulfillment footprint and built a UPS-sized delivery network in a matter of years versus what it had previously taken it decades to do.ĭeepening those growing pains, Jassy is also dealing with an increasingly challenging economic backdrop while facing increased scrutiny from regulators. The latest public salvo comes less than two weeks after Amazon’s Q4 earnings results, with the Financial Times (FT) outlining two challenges facing the chief executive of the eCommerce giant. This, as talk of Jassy struggling to put his own stamp on the company he took over from billionaire founder Jeff Bezos in July 2021 is starting to mount amid open discussion about how the former leader of Amazon Web Services is going to step out of his predecessor’s shadow. Nineteen months and $1 trillion of lost market value later and Amazon CEO Andy Jassy is fast approaching a second anniversary and a reckoning.
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