Amazon’s tight-lipped financial chief will be going dead-silent next year.
Tom Szkutak, who gained a reputation on Wall Street for his vague responses and deft dodges to questions from stock analysts, is retiring next June after a dozen years as Amazon’s chief financial officer.
Answering only to CEO Jeff Bezos, Szkutak has consistently kept investors in the dark on key aspects of Amazon’s financial picture, including — and especially— the company’s lavish spending.
“I’ve never seen a CFO as uninvolved with investors,” Michael Pachter, a tech analyst at Wedbush Securities, said of Szkutak.
Nevertheless, few are entertaining hope that the departure of the 53-year-old CFO signals a new era of transparency for investors, much less tighter purse strings.
Szkutak will be succeeded by Brian Olsavsky, a vice president of finance who “will do his very best to be a clone” of longtime boss Szkutak, Pachter predicts.
Szkutak, in a statement, said that he looks forward to “spending more with my family and other outside interests.”
Amazon officials didn’t respond to requests for further comment.
This year, Amazon is expected to rack up $1 billion in profit, about the same as five years ago, despite more than tripling sales to about $90 billion.
That’s because Amazon has been pouring more cash into building distribution warehouses, free shipping for customers and streaming-music and video services.
In late July, Amazon’s stock fell 10 percent after the company said operating losses in the current quarter could top $800 million. Amazon shares are off 15 percent this year.