Amazon.com has been soaring during the recession. Now the company's directors are getting some of the credit. Seeking Alpha named Amazon one of three of America's best boards, saying that while CEO Jeff Bezos grabs the "lion's share" of attention, the online retailer's board also plays a role in the company's success.
Seeking Alpha's Eric Jackson writes that while Amazon is "consistently criticized by some for its sky-high valuation, it continues to succeed operationally and in its moves into new categories," including electronic books.
He goes on:
But what I love most about this board is that every director has relevant tech or consumer experience which they bring to the group. Bezos didn't waste a seat around the table with the former ambassador to Ireland, buddies from the Seattle business community with no consumer background, former bosses, or the general manager of the Oakland A's baseball team. There's also a good range of ages and length of time served on the board across its eight members. A couple of the directors serve on two other boards besides Amazon's, and three have been on the board more than 13 years, which is getting a little long in the tooth, but these are very minor infractions when compared with most boards.
Jackson doesn't name the Amazon board members, but they include Tom Alberg of Madrona Venture Group; former Xerox executive John Seely Brown; L. John Doerr and William Gordon of Kleiner Perkins; Alain Monié of Ingram Micro; former Reader's Digest Chairman and CEO Thomas Ryder; and former Gates Foundation CEO Patricia Stonesifer, now of the Smithsonian Institution.
Seeking Alpha notes that stock ownership among the Amazon directors is high, with the median around $4 million. The other "best boards" are Berkshire Hathaway and Johnson & Johnson.
What do you think? Do Amazon directors play a significant role in shaping the company's direction and strategy?
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