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AMZN CFO Resigns.... In 2015

|Includes:, Inc. (AMZN)

OK, so it's not until 2015. Somehow I missed news this during the trading week:

"On September 3rd, the company announced that its Chief Financial Officer, Thomas J. Szkutak, will retire in June of 2015. Szkutak has held this position since October 2002 and will be succeeded by Brian Olsavsky, the current vice president of finance for Amazon's global consumer business."

Ordinarily I would say that CFO departures are among the most ominous, but seeing that Mr. Szkutak has been in place for 13 years it's hard to say this is an automatic negative. However, given the stock price performance after earnings releases over the reported losses the past few quarters, perhaps there was some mounting pressure and the job was getting more uncomfortable. In other companies, CFO resignations have resulted from disagreements over how things get accounted for in ways that can impact near-term earnings.

So for now, I will say this is probably a non-event especially since it is a pre-announcement for 2015, but one that deserves monitoring especially with the next earnings release.


Disclosure: The author is short AMZN.