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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 220.66+1.6%Nov 21 9:30 AM EST
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To: Eric Wells who wrote (64737)6/26/1999 11:41:00 AM
From: Eric Wells  Read Replies (1) of 164684
 
I'd be interested in getting impressions from people on this thread on Amazon's decision to bring in Galli as it's new president and COO. From a bearish point of view, two concerns immediately come to mind:

1. One could argue that it is surprising that Amazon should chose someone from the bricks & mortar world to lead the company. I know very little about Galli - I do know that he was well respected at Black & Decker, and that BDK stock actually went down a couple of points upon the announcement of his departure (BDK's stock has since bounced back). While Amazon has a great management team, it concerns me that they should chose someone who from the surface would appear to have little experience in doing business on the internet (this is conjecture on my part - perhaps Galli is very net-savvy). It brings to mind Apple's decision many years back to hire Scully to head the company - and well, at least in my view, Scully's ascendency was the beginning of the end for Apple (then Amelio nearly killed the company, but of course, Apple has recently come back to life under Jobs).

2. One has to question why Bezos is not continuing as both CEO and President. And the simple answer could be that it is just too much, that a better structure is to have separate people in the roles of CEO and President. But other potential reasons for the move come to mind: was the hiring of Galli driven by the realization of the Amazon board and management team that the company must show a profit soon in order to satisfy shareholders? And is it possible that, while Bezos has made a tremendous contribution to the company as a visionary, there is now a strong need to have someone focused on the bottom line? Of course, this is all conjecture - and it could be totally groundless. I don't have any information on what drove the decision to bring someone in as president - does anyone else? Even if the hiring of Galli was done to get someone more focused on the bottom line - this could be viewed as a positive move for Amazon.

I'd appreciate other points of view.

Thanks,
-Eric Wells
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