Amazon executive joins Flexport Inc.

Dave Clark, who spent two decades climbing the ranks at Amazon.com to become its consumer chief, is joining logistics software startup Flexport Inc.

Clark will be co-chief executive officer for six months starting Sept. 1, before taking on the job solo, the company said on Wednesday.

Founder and current CEO Ryan Petersen will become executive chairman.

Clark, 49, announced his departure from Amazon last week. His exit came amid slowing online sales growth that has left the company with too much warehouse space.

Clark joined Amazon out of business school in 1999, working to manage some of its earliest warehouses.

As head of global fulfillment, he introduced robots into Amazon warehouses and took the lead in building a transportation arm, when partners including United Parcel Service and the U.S. Postal Service proved unable to handle surging online demand.

Clark was among the senior executives whose compensation package was singled out by investment advisory firms that argued pay should be better tied to company performance.

Clark’s pay package was $56 million during 2021.

Founded in 2013 and based in San Francisco, Flexport provides software and other digital tools designed to streamline cumbersome logistics processes – consolidating shipments in cargo containers, say, or getting those items through customs – that often require manual data entry or a series of phone calls.

Spirit halts Frontier vote

Spirit Airlines’ board postponed a crucial Friday vote to gain more time to build shareholder support for a company-backed buyout deal with Frontier Group Holdings, days after JetBlue Airways raised its rival takeover offer to $3.4 billion and added an upfront cash payment.

The balloting was reset for June 30, giving Spirit directors time to continue discussions with Spirit shareholders and both of its suitors, the board said in a statement.

Spirit is still bound by terms of the stock-and-cash takeover agreement with Frontier initially valued at $2.9 billion, still recommends that deal and hasn’t determined that JetBlue’s proposal is superior, according to the statement.

Spirit shares closed at $22.16, down 0.51, after reaching a high of $22.98 during Wednesday’s trading.

From wire reports