Source: The Wall Street Journal
In a shareholder letter, Mr. Bezos stressed the importance of putting customers first and staying nimble
Amazon.com CEO Jeff Bezos earned a base salary of $81,840 last year, and because of his large stake in the company, has never taken stock-based compensation.
Amazon.com Inc. Chief Executive Jeff Bezos says he recently thought a new show the Amazon Studios team was considering was too boring and complicated to produce. But he gave it the green light anyway because the team thought it had potential.
Mr. Bezos told his team, “I disagree and commit and hope it becomes the most watched thing we’ve ever made,” he wrote in a shareholder letter published Wednesday. “Consider how much slower this decision cycle would have been if the team had actually had to convince me rather than simply get my commitment.”
The letter, an annual exercise, offers a window into Mr. Bezos’s management philosophy, describing how he can disagree with employees but still back their projects, as well as his opposition to relying on market research and other core company tenets.
Amazon also released data on compensation, which showed Andy Jassy, who runs the Amazon Web Services cloud division, was the top earner at $35.6 million last year, including stock awards. Read the rest of this entry »