Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

Former Amazon executive Dave Clark to resign as Flexport CEO

Published 2023-09-06, 06:31 p/m
© Reuters. FILE PHOTO: Dave Clark, Amazon's senior vice president of worldwide operations, speaks during a press conference announcing Amazon.com's new program to help entrepreneurs build businesses delivering Amazon packages, including $1 million to fund startup co

By Lisa Baertlein

LOS ANGELES (Reuters) -Former Amazon executive Dave Clark on Wednesday announced that he will resign as CEO of U.S. logistics startup Flexport about a year after he joined the company.

The Wall Street Journal reported that Clark is preparing for a potential run for Texas governor, a topic he did not address in his statement.

Clark joined the company as co-CEO in September 2022 after a long career at Amazon.com (NASDAQ:AMZN). He became sole CEO in March, when founder Ryan Petersen became executive chairman.

"As the founder, (Petersen) expressed a desire to have a leader take the company to the next level ... I came to Flexport to do big things and that's where I believe we were headed," Clark wrote in a post on the social media site X, formerly known as Twitter.

Clark, best known for building Amazon's sprawling warehouse and delivery network, said he was preparing to launch a Flexport product for small businesses on Thursday. He said he resigned after a conversation in which Petersen expressed his desire to return to focusing on growth in Flexport's core freight business.

"I feel that he is best suited to lead the company in that direction," Clark said. "Founders have the right to change their mind."

Flexport confirmed the executive changes and declined to elaborate.

Flexport is one of the most valuable U.S. logistics startups with $2.3 billion in funding so far.

In June, Flexport completed its purchase of Shopify (TSX:SHOP) Logistics, a move it said added e-commerce fulfillment, business-to-business distribution and last mile delivery to the company's portfolio of services.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.