Amazon’s founder Jeff Bezos will step down as a CEO of the company and will move to an executive chair in the Q3 of this year. CEO of AWS Andy Jassy will be taking over as chief executive for the firm. Bezos, in an email to employees, said that the transition will allow him to devote more time to “Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and other passions.” Jassy had previously been speculated as a likely successor.
Alphabet CEO Sundar Pichai said employee dissent about Google’s AI work looks intense because the company is so transparent. Pichai during a WEF discussion said “We are a lot more transparent than most other companies, and so you do see us in the middle of these issues. ” Last year in Dec, researcher Timnit Gebru, known for revealing how facial recognition algorithms are better at identifying White people than Black people, left Google amid controversy.
T Delaporte joined Wipro as a CEO in July last year from Capgemini. Since then the company’s share price has risen 103%. Under his leadership, Wipro has undergone many changes and one of them was sales performance tracking, which was earlier done on a quarterly basis. ” We have moved into a monthly cadence. That has tripled the speed, and we have seen an immediate positive impact of this measure” said T Delaporte in an interview.
Apple CEO Tim Cook’s salary jumped 28% this year. Cook’s 2020 pay, excluding vested shares, was $14.8 mn, including the cash bonus and a $3 mn salary that didn’t change from the prior year. In addition, Cook had a total of $281.9 mn in restricted stock that vested during the year. Cook took home $125 mn as his pay package in 2019, nearly 8 % lower than $136 mn which he received in total compensation in 2018.
Qualcomm has selected Cristiano Amon to succeed Steve Mollenkopf as CEO, effective June 30, 2021. Mollenkopf will retire as CEO following 26 yrs of a stint in the Company. Amon, at present, is President of the firm and has worked at Qualcomm since 1995. Mollenkopf will continue his tenure with the organisation as a strategic advisor for a period of time. Mollenkopf, 52, became CEO in March of 2014 and was instrumental in its rise as a smartphone tech supplier.
Flipkart and PhonePe have space for other investors and can even go for stock market listings, said Walmart CEO Doug McMillon. McMillon, however, did not share details but said both Flipkart and PhonePe could diversify in a number of ways, including IPOs. Walmart bought around 77% of Flipkart for roughly $16 bn in 2018. Bengaluru based Flipkart, was earlier reported, to preparing for an IPO overseas in the year 2021, which could value the firm at up to $50 bn.
Cloud-computing company Snowflake reported the third-quarter revenue more than double from a year earlier, and its stock has surged 223% since its Sept 15 IPO. That makes CEO Frank Slootman one of the top-paid tech executives. Slootman’s pay includes more than 13.7 mn options with a strike price of $8.88 and an annual base salary of $375,000. Once the full options package is paid out in early 2023, it would be worth about $5.2 bn based on the latest share price of $387.70.
Wipro Thierry Delaporte, when took over as a Chief Executive of Wipro five months back, is yet to visit the Bangalore headquarters once, but the company’s stock has rallied about 70% since then. Highest among the peers. He focused on customers, meeting with 130 over VC and helping to land new multi-year contracts. The 53-year old has also slashed the top ranks of leadership from 25 people to four. He stepped up acquisitions, with few more to follow.