Amazon Senior VP and CFO Thomas Szkutak will be retiring from the company in June of 2015. He will be succeeded by Brian Olsavsky, VP of finance for the company's global business.
Szkutak has been Amazon's CFO since joining the company in October of 2002. His tenure has included oversight of the controller, treasury, investor relations, tax, internal audit and facilities functions, as well as financial management of Amazon's business units, according to a company statement.
"Tom's impact over the past 12 years is evident in every part of our business," said Jeff Bezos, founder and CEO of Amazon. "Under Tom's stewardship, customers have benefitted from category expansion and geographical expansion, along with amazing new businesses like [Amazon Web Services] and Kindle."
However, Szkutak's reputation for disclosure hasn't always been crystalline. Analysts and shareholders have had sour run-ins with the company's CFO of 12 years that have been less than forthcoming in terms of transparency. Szkutak is notorious for obfuscating concrete numbers pertaining to product revenue and acquisition turnover, just as a few examples.
Oslavsky, who will replace Szkutak, has been with Amazon since April of 2002 when he joined as VP of finance. Since then, he has filled multiple financial leadership roles entailing global responsibility throughout Amazon's various divisions. Before Amazon, he worked for seven years at Fisher Scientific International in a number of financial and management capacities.
Szkutak and Olsavsky will continue to work together in the next 10 months to ensure "a seamless transition of CFO responsibilities." Press Release