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Amazon.com, Inc. (NASDAQ:AMZN) CEO Jeff Bezos accused the National Enquirer of blackmail last week, and there's no indication the conflict will dissipate in the near-term.
Cramer: A Bit Worried
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Bezos, the world's richest person, is free to conduct his private life how he wants, CNBC's Jim Cramer said during his daily "Mad Money" show Friday. But Cramer said his charitable trust holds shares of Amazon, and the latest scandal the CNBC host "worry a little bit" about Bezos' judgment as a business leader.
While some analysts and investors maintain a clear bullish long-term stance on Amazon, the stock's inability to rally Friday like some of its peers is a worrisome sign, Cramer said.
"Trust me when I say that this stock would have moved up sharply if not for these startling revelations."
Management Pro: Succession Commentary
Regardless of any scandal, Bezos' tenure as Amazon leader now spans several decades and investors are naturally worried about a succession process, said Jeff Sonnenfeld, the senior associate dean for leadership studies at the Yale School of Management.
Encouragingly, the company has several capable executives lined up who can take over as CEO, Sonnenfeld said on "Squawk Box."
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Among the capable executives he named:
- Jeff Wilke, CEO of Amazon Worldwide Consumer.
- Andrew Jassy, CEO of Amazon Web Services.
- Brian Olsavsky, Amazon CFO.
There is no indication that Amazon's board is worried about enacting any succession plan, but nevertheless investors are publicly questioning who is available in the "backup squad," Sonnenfeld said.
Cybersecurity Expert: Here's What Could Have Happened
One of the more overlooked topics of conversation is how the National Enquirer obtained personal and private photos Bezos reportedly snapped. Eva Galperin, cybersecurity director at the Electronic Frontier Foundation, said during Friday's "Bloomberg Technology" segment that messaging between phones isn't secure, and it is possible someone hacked into Bezos' or his partner's phone.
A more simple scenario involves someone seeing firsthand a private photo Bezos reportedly sent, she said.
"Once you send a message to someone, they can pass it right along and then you have no control over where it goes after."
Related Links:
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.