Amazon taps Doug Herrington to lead Worldwide Amazon Stores
jetcityimage/iStock Editorial via Getty Images

Amazon (NASDAQ:AMZN) announced in a blog post that Doug Herrington will become the new CEO of our Worldwide Amazon Stores business to replace the duties of the departing Dave Clark.
Herrington joined the company in 2005 to build out its Consumables business, launched AmazonFresh in 2007, and took on leading the entire North American Consumer business in 2015.
Amazon (AMZN) CEO Andy Jassy said the e-commerce giant was changing the name of the Consumer business to Amazon Stores and will bring the Operations group under a single leader, John Felton.
Jassy also reminded investors that AMZN is still a growth story.
"Itâs worth remembering that Amazon currently only represents about 1% of the worldwide retail market segment share, and 85% of that worldwide market segment share still resides in physical stores. If you believe that equation will change over time (which I do), thereâs *a lot* of potential for us as we continue to be laser-focused on providing the best customer experience (broadest selection, low prices, fast and convenient delivery) while working on our cost structure to have the right long-term business."
Amazon (AMZN) gained 2.56% on Tuesday amid a strong recovery day across the Internet retail sector