Amazon just lost a top exec who managed the tech giant's $30 billion cash hoard

[ad_1]

• Amazon has lost one of its top executives, according to CNBC.
• Kurt Zumwalt, who was the company’s global treasurer and responsible for managing Amazon’s cash and overseeing its investments, left the company after 15 years.
• A spokesperson for Amazon did not immediately respond to Business Insider’s request for comment. Zumwalt’s LinkedIn page indicates that he left this month.

Amazon has lost one of its top executives, according to CNBC.

Kurt Zumwalt, the tech giant’s global treasurer who was responsible for managing Amazon’s $31.7 billion cash pile, its debt financing, and overseeing its investments, left the company after more than 15 years.

A spokesperson for Amazon did not immediately respond to Business Insider’s request for comment or confirm who will take over the role. Zumwalt’s LinkedIn page indicates that he left this month.

Read more: The EU just launched a big antitrust probe into Amazon, and it could lead to a fine of up to $23 billion

His departure comes at a pivotal moment for the company. It recently said it would be investing more than $800 million to evolve its two-day shipping guarantee to one day and faces intense regulatory scrutiny around its business practices, including an antitrust investigation in Europe over its treatment of third-party sellers.

Zumwalt did not immediately respond to Business Insider’s request for comment.

SEE ALSO: Facebook is reportedly building a new messaging app for Instagram in its latest assault on Snapchat

Join the conversation about this story »

NOW WATCH: Jeff Bezos is worth over $160 billion — here’s how the world’s richest man makes and spends his money

[ad_2]