Given the steep downturn in Amazon’s stock price and stiff operational challenges ahead, could Jeff Bezos pull a Bob Iger and return as the company’s CEO? One investor is predicting that scenario will play out in 2023
for this year by Michael Batnick, managing partner at Ritholtz Wealth Management.
“The company he spent his life building is struggling big-time,” Batnick told CNBC in an interview Wednesday. A CEO reversing an earlier departure is “not without precedent,” the investor added. At Disney, “Bob Iger just did this. [Starbucks boss] Howard Schultz has pulled this multiple times.”gave way to turbulence as inflation and a host of other economic factors conspired against it.
From a slowdown in advertising to rising shipping, labor and logistics costs, Amazon is facing a difficult operating climate. On Tuesday, the company disclosed in an SEC filing that it had obtained a loan of $8 billion for “general corporate purposes.” In a statement to tech and financial media outlets, a spokesperson for the company cited the “uncertain macroeconomic environment” as the motivation for the loan.
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