Elson said Bezos is in a “very difficult” situation that would make it impossible for almost anyone to focus completely on their job responsibilities. Amazon’s board and shareholders, he said, should view that as a growing risk factor to Amazon, as it could potentially prevent Bezos from running the company “wisely and prudently.”
“I don’t know how you can compartmentalize and continue to operate as your fiduciary duty requires,” Elson said. “At some point, someone’s going to say something.”
In January, Bezos announced his divorce from his wife of 25 years, MacKenzie Bezos. Soon, the National Enquirer reported Bezos’s divorce was due to his affair with TV personality Lauren Sanchez and that it possessed lurid photos of the CEO. About a month later, Bezos published a blog post detailing the extortion threats he said he received from the National Enquirer, going public with his fight against the tabloid.
At the same time, Amazon has had to deal with its own share of controversies. It abruptly cancelled its plan to build HQ2 in New York City following criticism from local activists and politicians. Now, similar pushback is arising in Northern Virginia, the other location for HQ2. Amazon’s earnings report last month disappointed many investors, while the company is facing new regulations in India that could make it more difficult to expand in the country. It also took a publicity hit when one of its cargo planes crashed in Texas, and a group of high-profile shareholders raised concerns about its facial recognition software called Rekognition.
Wall Street doesn’t seem too worried yet. Amazon’s stock is up five percent this year, and in January, rose to briefly become the most valuable company in the world.
In the blog post about the National Enquirer, Bezos stressed that he’s not distracted by the tabloid scandal, saying he’s prioritizing his time because he has “other things he prefers to work on.” Still, Bezos’s divorce could potentially jeopardize his ownership stake and position at Amazon, as Washington state law could split his 16 percent share of the company in half.
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