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.”



Dollar Extends Falls after Weaker-than-expected US Producer Prices

US Dollar banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo
US Dollar banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo
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Dollar Extends Falls after Weaker-than-expected US Producer Prices

US Dollar banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo
US Dollar banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo

The US dollar extended losses against the euro and yen on Thursday after yet another data showing softer-than-expected inflation in the world's largest economy, suggesting the Federal Reserve could increase the pace of its easing cycle.

The dollar dropped 0.95% against the yen to 143.29 yen , while the euro surged more than 1% to $1.1624 .

US producer prices last month rose just 0.1%, less than the expected 0.2% rise.

According to Reuters, the dollar has sunk to its lowest in three years as rapidly changing US trade policy unsettles markets and expectations build for Federal Reserve rate cuts, fuelling outflows from the world's biggest economy.
With the dollar down almost 10% against a basket of major currencies this year, other countries around the globe are grappling with unanticipated FX moves that are having a knock-on impact on economic growth and inflation.