Longtime Amazon Executive Jeff Wilke to Retire Next Year

Amazon retail chief Jeff Wilke. (Reuters)
Amazon retail chief Jeff Wilke. (Reuters)
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Longtime Amazon Executive Jeff Wilke to Retire Next Year

Amazon retail chief Jeff Wilke. (Reuters)
Amazon retail chief Jeff Wilke. (Reuters)

Amazon retail chief Jeff Wilke, who has helped Amazon transform itself from an online bookstore into a global colossus, is retiring early next year.

Wilke, 53, has been with Amazon for more than two decades and was regarded as a potential successor to founder and CEO Jeff Bezos. His oversight at Amazon grew along with the company, running not just Amazon.com, but the Whole Foods grocery chain and its physical book stores.

Wilke is referred to within Amazon as “The other Jeff” to differentiate him from Bezos. The two have worked closely together since Wilke joined the company in 1999, four years after Amazon.com started selling books online.

Wilke will be replaced by Dave Clark, who runs the Amazon's warehouses and delivery network, the Seattle-based company said Friday.

In an email to staff, Wilke said that he doesn't have another job lined up.

"So why leave? It’s just time," he wrote in the email. “Time for me to take time to explore personal interests that have taken a back seat for over two decades.”

Wilke said he will focus on running the company through the holiday season, which is shaping up to be the busiest one yet for Amazon. Sales have skyrocketed as online sales boom during the pandemic.

“He is simply one of those people without whom Amazon would be completely unrecognizable,” Bezos wrote in a memo to staff. “Thank you, Jeff, for your contributions and your friendship.”



Oil Up as Market Watches US-China Trade Talks

FILE - Pumpjacks are seen before sunrise in Hobbs, N.M., Feb. 24, 2025. (AP Photo/Julio Cortez, File)
FILE - Pumpjacks are seen before sunrise in Hobbs, N.M., Feb. 24, 2025. (AP Photo/Julio Cortez, File)
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Oil Up as Market Watches US-China Trade Talks

FILE - Pumpjacks are seen before sunrise in Hobbs, N.M., Feb. 24, 2025. (AP Photo/Julio Cortez, File)
FILE - Pumpjacks are seen before sunrise in Hobbs, N.M., Feb. 24, 2025. (AP Photo/Julio Cortez, File)

Oil prices climbed on Tuesday as investors awaited the outcome of US-China talks that could pave the way for easing trade tensions and improve fuel demand.

Brent crude futures rose 28 cents, or 0.4%, to $67.32 a barrel by 0330 GMT. US West Texas Intermediate crude was up 23 cents, or 0.4%, at $65.52.

On Monday, Brent had risen to $67.19, the highest since April 28, buoyed by the prospect of a US-China trade deal, Reuters said.

US-China trade talks were set to continue for a second day in London as top officials aimed to ease tensions that have expanded from tariffs to rare earth curbs, risking global supply chain disruptions and slower growth.

Prices have recovered as demand concerns have faded with the trade talks between Washington and Beijing and a favorable US jobs report, while there are risks to North American supply due to wildfires in Canada, Goldman Sachs analysts said.

US President Donald Trump said on Monday that the talks with China were going well and he was "only getting good reports" from his team in London.

A trade deal between the US and China could support the global economic outlook and boost demand for commodities including oil.

Elsewhere, Iran said it would soon hand a counter-proposal for a nuclear deal to the US in response to a US offer that Tehran deems "unacceptable", while Trump made clear that the two sides remained at odds over whether the country would be allowed to continue enriching uranium on Iranian soil.

Iran is the third-largest producer among members of the Organization of the Petroleum Exporting Countries and any easing of US sanctions on Iran would allow it to export more oil, weighing on global crude prices.

OPEC+, which pumps about half of the world's oil and includes OPEC members and allies such as Russia, is accelerating its plan to unwind its most recent layer of output cuts.

"The prospect of further hikes in OPEC supply continues to hang over the market," Daniel Hynes, senior commodity strategist at ANZ, said in a note.

"A permanent shift to a market driven strategy (in OPEC) would push the oil market into a sizeable surplus in H2 2025 and almost surely lead to lower oil prices."