<img src="https://static-ssl.businessinsider.com/image/5e86513f487c220aad26da46-708/2020-03-21t191119z1lynxmpeg2k0knrtroptp3health-coronavirus-france-amazon.jpg" alt="FILE PHOTO: The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, March 19, 2020. REUTERS/Pascal Rossignol" /><ul class="summary-list"><li>Amazon's top executives discussed mounting a PR campaign against an organizer the company fired after New York opened an investigation into the incident, according to a leaked memo obtained by <a href="https://www.vice.com/en_us/article/5dm8bx/leaked-amazon-memo-details-plan-to-smear-fired-warehouse-organizer-hes-not-smart-or-articulate">Vice</a>.</li><li>Amazon fired the worker, Chris Smalls, earlier this week after he helped lead a strike to protest the company's response to the coronavirus.</li><li>Amazon's top lawyer called the worker "not smart or articulate" and said the company should "make him the face of the entire union/organizing movement," Vice reported.</li><li>The memo comes as workers say Amazon has intimidated employees for participating in the walkouts.</li><li>Amazon has denied that it fired Smalls in retaliation for speaking out, saying that he violated a quarantine order after coming into contact with a coworker who tested positive for COVID-19.</li><li>The executive who mounted the campaign later told Vice his "comments were personal and emotional."</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>Amazon's top executives laid out a plan to discredit an organizer the company fired after New York announced it was investigating the incident, according to a leaked memo obtained by <a href="https://www.vice.com/en_us/article/5dm8bx/leaked-amazon-memo-details-plan-to-smear-fired-warehouse-organizer-hes-not-smart-or-articulate">Vice</a>.Earlier this week, Amazon fired Chris Smalls, an assistant manager at one of its warehouses in New York, after he helped organize a strike in protest of the company's response to the coronavirus pandemic."He's not smart, or articulate, and to the extent the press wants to focus on us versus him, we will be in a much stronger PR position," Amazon general counsel David Zapolsky wrote of Smalls in notes that were forwarded to others in the company. Zapolsky added that Amazon should "make him the face of the entire union/organizing movement."Zapolsky's notes also said there was "general agreement" on the strategy, according to Vice. CEO Jeff Bezos, head of worldwide operations and customer service Dave Clark, and head of human resources Beth Galetti were reportedly in attendance. The meeting was held earlier this week to brief Bezos and other executives on how the company is responding to the coronavirus situation.Amazon did not immediately respond to Business Insider's questions about the memo and strategy.The memo comes as workers say Amazon has intimidated employees for participating in the walkouts. An employee at an Amazon warehouse in Michigan, <a href="https://www.businessinsider.com/amazon-workers-detroit-to-walk-out-after-third-coronavirus-case-2020-4">where a walkout was led on Wednesday</a>, told Business Insider that managers threatened employees that participating in the walkout would result in being fired.Smalls helped organize <a href="https://www.businessinsider.com/staten-island-amazon-warehouse-workers-strike-coronavirus-2020-3">a walkout at an Amazon facility in Staten Island, New York</a>, on Monday to protest the company's cleaning procedures following a confirmed case of the coronavirus there. Workers have asked Amazon to close the warehouse for cleaning, and have said the company's efforts have not been enough to keep them safe from the virus. Smalls was <a href="https://www.businessinsider.com/amazon-fires-warehouse-worker-led-strike-protest-covid19-cornavirus-response-2020-3">fired after the walkout</a>, and said his firing was retaliation from Amazon for his protest. "Amazon would rather sweep a problem under the rug than act to keep workers and working communities safe," Smalls said in a statement to Business Insider.Amazon has denied Smalls accusations, telling Business Insider that it fired him for "violating social distancing guidelines and putting the safety of others at risk" after the company found he had come into contact with a coworker diagnosed with COVID-19 and asked him to remain home with pay for two weeks.New York City's human rights commissioner <a href="https://www.businessinsider.com/nyc-mayor-orders-investigation-amazon-warehouse-worker-firing-coronavirus-protest-2020-3">has opened an investigation into the firing</a>. New York's attorney general, Letitia James, told Business Insider that her office is "considering all legal options" and called Amazon's decision to fire Smalls "disgraceful." She called on the National Labor Relations Board, a government labor watchdog, to open another investigation into the matter. <a href="https://www.businessinsider.com/intelligence/30-big-tech-predictions-for-2020?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=amazon&amp;itm_campaign=30-big-tech-predictions-for-2020"><img src="https://static.businessinsider.com/image/5e3895ed5bc79c3adb162707" alt="Exclusive FREE Report: 30 Big Tech Predictions for 2020 by Business Insider Intelligence" style="margin: 0 auto !important; width: 100% !important; min-width: 280px !important; max-width: 640px !important" /></a>

A leaked memo reveals Amazon's reported efforts to mount a PR campaign against a worker it fired after he led a protest calling for better safety standards at warehouses amid the coronavirus

<img src="https://static-ssl.businessinsider.com/image/5d274b99a17d6c11f66f2336-2400/ap18247574203347.jpg" alt="In this Sept. 6, 2012, file photo, Jeff Bezos, CEO and founder of Amazon, is illuminated by a display screen at the introduction of the new Amazon Kindle Fire HD and Kindle Paperwhite in Santa Monica, Calif." /><ul class="summary-list"><li>Amazon CEO Jeff Bezos has 9 direct reports, based on a list compiled by Business Insider.</li><li>Bezos is facing a number of issues this year, both inside and outside of the company, making it more important than ever to rely on these people to run Amazon.</li><li>One notable change from last year's direct reports is the "shadow" advisor position, who typically accompanies Bezos to every meeting under the goal of learning about the business.</li><li>But the list is mostly the same from last year, reflecting the stability among Amazon's leadership ranks.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>Amazon CEO Jeff Bezos is off to a rough start in 2020, facing a myriad of issues in and out of the company.Internally, Bezos is facing an unprecedented level of employee dissent over certain company policies, like its climate pledge, which led to a <a href="https://www.washingtonpost.com/technology/2020/01/26/amazon-employees-plan-mass-defiance-company-communications-policy-support-colleagues/">public protest</a> last month. Externally, Amazon is under growing regulatory pressure both at home and abroad, including in India, where Bezos couldn't meet <a href="https://www.wsj.com/articles/jeff-bezos-unhappy-passage-to-india-11579824746">Prime Minister Narendra Modi</a> during his visit last month despite a charm offensive.More personally, Bezos is facing major attacks, in large part due to his ownership of the Washington Post. Besides President Trump, who's been a regular critic of Bezos over the years, the Amazon CEO is now part of a bizarre phone hacking scheme that allegedly involves the <a href="https://www.businessinsider.com/jeff-bezos-phone-hacked-saudi-crown-prince-mbs-report-explained-2020-1">Saudi government</a> and <a href="https://www.businessinsider.com/jeff-bezos-lauren-michael-sanchez-national-enquirer-photos-defamation-lawsuit-2020-2">Michael Sanchez</a>, the brother of his girlfriend Lauren Sanchez.All this makes it more important than ever for Bezos to rely on his team of 9 direct reports to help him run Amazon. Business Insider has identified the 9 most powerful people at Amazon who report directly to Bezos, with roles covering everything from e-commerce and cloud computing to hardware devices and public policy.Not much has changed from last year, based on documents seen by Business Insider. The only difference from last year is the technical advisor position, better known as the "shadow" advisor, which is vacant for the first time in nearly two decades, as <a href="https://www.businessinsider.com/jeff-bezos-shadow-advisor-job-vacant-list-past-shadow-advisors-2020-1">Business Insider previously reported</a>. The absence of a shadow, who typically accompanies Bezos to every meeting, suggests the CEO may be busy spending more time on non-Amazon issues, like fending off personal attacks from other powerful figures or external projects like his space exploration company Blue Origin.The lack of change in Bezos's direct reports also reflect the stability in Amazon's upper ranks and the trust built among his top deputies. Unlike other tech companies, Amazon's most senior leadership team has seen very little turnover over the years. And that stability is yielding solid returns, as seen in last week's <a href="https://www.businessinsider.com/amazon-earnings-q4-2019-aws-cloud-2020-1">quarterly earnings report</a> that blew past street expectations and boosted Amazon's stock by almost 10%.Bezos, meanwhile, added <a href="https://www.businessinsider.com/jeff-bezos-promotes-female-exec-to-s-suite-2019-12">6 new executives</a> this year to his S-team, a separate group of top Amazon executives who advise the CEO on every company issue. Members of the S-team don't always report directly to Bezos and include a wider-range of business leaders covering fashion and advertising.<h2>Meet the 9 people reporting directly to Bezos:</h2>Jeff Wilke, CEO of worldwide consumerWilke is one of the three CEOs at Amazon, alongside Bezos and Andy Jassy, who runs the AWS cloud division. Wilke, who first joined Amazon in 1999, is in charge of everything on the retail side, including the marketplace, Prime memberships, and Whole Foods. Andy Jassy, CEO of Amazon Web ServicesJassy, who started at Amazon in 1997, is the face of the AWS cloud division. As CEO of AWS, Jassy runs all aspects of the $35 billion business, and is considered one of Bezos's most trusted lieutenants.Jeff Blackburn, SVP, Business and Corporate DevelopmentBlackburn runs newer parts of Amazon, such as Prime Video and its advertising business. He also oversees the company's M&amp;A and investment arms. Blackburn, who joined Amazon in 1998, is also considered one of the closest advisors to Bezos. He's currently taking a one-year sabbatical.Dave Limp, SVP, Amazon Devices, Digital ManagementLimp is Amazon's hardware boss. He runs the secretive Lab126 team and other parts of Amazon's hardware business, such as the Alexa voice-assistant. He joined Amazon in 2010.Jay Carney, SVP, Global Corporate AffairsCarney runs all press and policy teams at Amazon. His role has grown in importance lately as Amazon has faced a more hostile regulatory environment. Carney previously served as the White House press secretary for President Barack Obama.Brian Olsavsky, SVP and CFOOlsavsky is in charge of Amazon's finances. He's best known for taking the company's earnings call every quarter. After joining Amazon in 2002, he was promoted to CFO in 2015.David Zapolsky, SVP &amp; General Counsel, LegalZapolsky is Amazon's top lawyer. He oversees Amazon's legal and compliance issues. He became the general counsel in 2014, nearly 15 years after joining Amazon.Beth Galetti, SVP, Human ResourcesGaletti is in charge of Amazon's human resources division. Her responsibilities include hiring and employee benefits, as well as performance reviews. She was named the HR chief in 2016, just three years after joining Amazon.John Connors, Executive AssistantConnors has been Bezos's executive assistant for the past two decades. That loyalty has earned Bezos's respect, as he thanked Connors in an <a href="https://www.instagram.com/p/Bwo92Hmn9yN/?hl=en">Instagram post</a> last year for his continued service. "You're a big reason I'm able to be so busy and not go nuts - in fact, you somehow even make it calm!" Bezos wrote.

Jeff Bezos is having a tough start to the year - Meet the Amazon CEO's top 9 direct reports that he's relying on to run the company

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5ba0fc238ea82f56278b5ec0-2400/rtstq1s.jpg" border="0" alt="amazon worker" data-mce-source="Noah Berger/Reuters" />Noah Berger/ReutersAmazon is investing in its workforce.</div></div></div><ul class="summary-list"><li><a href="https://www.businessinsider.com/category/amazon">Amazon</a> is spending more than $700 million on retraining a third of its US workforce.</li><li>The <keyword id="6354851" type="UNKNOWN" weightage="60" keywordseo="retail">retail</keyword> giant said it will help employees in non-technical roles, such as warehouse associates, to move into more technical IT roles.</li><li>According to The Wall Street Journal, the investment would be among the biggest corporate retraining initiatives in America. It works out at $7,000 per worker.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet" target="_blank" rel="noopener">Visit BusinessInsider.com for more stories.</a></li></ul>Amazon is investing more than $700 million into retraining 100,000 of its US employees, or a third of its workforce in the country.<a href="https://press.aboutamazon.com/news-releases/news-release-details/amazon-pledges-upskill-100000-us-employees-demand-jobs-2025">The retail giant announced</a> on Thursday that it will be launching and expanding training programs to help staff progress their career and move into more skilled rolls. The news was first reported by <a href="https://www.wsj.com/articles/amazon-to-retrain-a-third-of-its-u-s-workforce-11562841120">The Wall Street Journal</a>.The training is voluntary for employees and most of the programs will be free, while workers will also be given paid time off to study during their work week.The training programs will aim to help non-technical employees move into software engineering roles, or give warehouse workers the skills to take on IT posts. "While many of our employees want to build their careers here, for others it might be a stepping stone to different aspirations. We think it's important to invest in our employees, and to help them gain new skills and create more professional options for themselves," said Beth Galetti, senior vice president of HR at Amazon.According to The Journal, the $700 million investment would be among the biggest corporate retraining initiatives in America. It works out at $7,000 per worker.Read more: <a href="https://www.businessinsider.com/amazon-workers-strike-amazon-prime-day-working-conditions-2019-7?r=US&amp;IR=T">Amazon workers are planning a strike for one of its busiest shopping days of the year</a>In recent years, Amazon has come under scrutiny for its treatment of workers. Warehouse employees and delivery drivers report working in intense conditions - <a href="https://www.businessinsider.com/amazon-warehouse-workers-have-to-pee-into-bottles-2018-4?r=US&amp;IR=T">peeing in bottles</a> and <a href="https://www.businessinsider.com/amazon-delivery-drivers-say-they-speed-urinate-in-bottles-2018-9?r=US&amp;IR=T">driving dangerously</a> - to meet their targets.This had led to strikes and protests against the company. Most recently, a group of <a href="https://www.businessinsider.com/amazon-workers-strike-amazon-prime-day-working-conditions-2019-7?r=US&amp;IR=T" target="_blank" rel="noopener">Amazon workers in Minnesota announced plans to strike</a> during its upcoming Prime day.Workers jobs are likely to come under more pressure as the company continues to invest in robotics to speed up its supply chain. According to a recent report by <a href="https://techcrunch.com/2019/03/17/these-are-the-robots-that-help-you-get-your-amazon-packages-on-time/">TechCrunch</a>, Amazon now has more than 100,000 robots in operation.<a href="https://www.businessinsider.com/category/amazon?r=US&amp;IR=T">An Amazon</a> robotics executive recently said the company is at least 10 years away from fully automating the picking and packing process in its warehouses, however.<a href="https://www.businessinsider.com/intelligence/40-big-tech-predictions-for-2019?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=amazon&amp;itm_campaign=40-big-tech-predictions-for-2019"><img src="https://static.businessinsider.com/image/5c3e00140df17634a90fd649" alt="Exclusive FREE Slide Deck: 40 Big Tech Predictions for 2019 by Business Insider Intelligence" border="0" style="width: 100% !important" /></a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/spacex-falcon-heavy-rocket-most-difficult-launch-ever-2019-6">Watch SpaceX's 'most difficult launch ever'</a></h3> <div> <iframe class="bijwplayerclass" data-player="jwplayer" src="https://content.jwplatform.com/players/yiAdiXUa-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;" allowfullscreen=""></iframe><script>function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</script> </div> </div>

Amazon commits $700 million to giant retraining scheme for 100,000 US workers

<img src="https://static-ssl.businessinsider.com/image/5e177a74b2e66a6054738612-2028/gettyimages-1177532678.jpg" alt="Jeff Bezos 2019 IAF Award" /><ul class="summary-list"><li>Paul Kotas, SVP of Amazon Advertising, now reports directly to CEO Jeff Bezos, Business Insider has learned.</li><li>The change follows the one-year leave of SVP Jeff Blackburn, who ran a vast portfolio of businesses, including advertising and video streaming. </li><li>Mike Hopkins, the newly hired SVP of Amazon Video and Studios, and Paul Krawiec, who runs corporate development teams, were also added to Bezos's inner circle last month.</li><li>The promotion is the latest sign of Amazon putting more emphasis on its advertising business.</li><li>Here's a list of the 12 executives who report directly to Bezos.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>The head of Amazon's advertising unit, Paul Kotas, is now one of the 12 direct reports under CEO Jeff Bezos, signifying the growing importance of the ad business within the company.Kotas, SVP of Amazon Advertising, was promoted last month, following the one-year leave of SVP Jeff Blackburn, who previously managed a vast group of teams including the advertising unit, Business Insider has learned. Mike Hopkins, the former chairman of Sony Pictures, was also added to Bezos's team, as <a href="https://variety.com/2020/digital/news/amazon-mike-hopkins-1203501383/">previously reported</a>, as well as Peter Krawiec, who runs Amazon's corporate development team.This is the first major expansion in Bezos's direct reports in at least three years. Amazon's representative declined to comment.Kotas's promotion follows the meteoric rise of Amazon's advertising business in recent years. As more sellers and brands buy ads on Amazon's marketplace to promote their products, Amazon saw its ad sales balloon to $14 billion <a href="https://ir.aboutamazon.com/news-releases/news-release-details/amazoncom-announces-fourth-quarter-sales-21-874-billion">last year</a>, up roughly 40%. eMarketer predicts that Amazon will account for 10% of US digital ad spending by 2021, behind only Google and Facebook, which control a combined 60% of the market.It's unclear if the organizational change is permanent, as Blackburn is expected to return next year. But it's a different arrangement from past cases. For example, when Diego Piacentini, Amazon's former SVP of international business, who previously reported to Bezos, took a leave in 2016, his successor Russ Grandinetti didn't get promoted to the CEO's inner circle, despite taking over most of his responsibilities. Other people who previously reported to Blackburn, like the executives running Amazon Music and the IMDb units, are now under Kotas, showing Bezos's interest in staying directly engaged with the advertising business.There are other signs of Amazon putting more emphasis on its advertising business. Colleen Aubrey, VP of performance advertising, <a href="https://www.businessinsider.com/jeff-bezos-promotes-female-exec-to-s-suite-2019-12">recently joined</a> Bezos's "S-team," a broader group of more than 20 of Amazon's most senior executives who advise the CEO on major business decisions. The advertising team also hosted its first conference <a href="https://www.cnbc.com/2019/10/08/amazon-adcon-first-big-advertising-conference-in-seattle.html">called AdCon 2019</a> last year.Kotas first joined Amazon in 1999, making him one of the company's longest-tenured executives. He was one of the first employees to leave D.E. Shaw - Bezos's former employer - to join Amazon, but he had pushed back his move a couple of years, costing him a fortune in stock compensation, according to Brad Stone's book, <a href="https://www.amazon.com/Everything-Store-Jeff-Bezos-Amazon-ebook/dp/B00BWQW73E">"The Everything Store."</a>Here's a closer look at the 12 most powerful people at Amazon who report directly to Bezos:Jeff Wilke, CEO of worldwide consumerWilke is one of the three CEOs at Amazon, alongside Bezos and Andy Jassy, who runs the AWS cloud division. Wilke, who first joined Amazon in 1999, is in charge of everything on the retail side, including the marketplace, Prime memberships, and Whole Foods. Andy Jassy, CEO of Amazon Web ServicesJassy, who started at Amazon in 1997, is the face of the AWS cloud division. As CEO of AWS, Jassy runs all aspects of the $35 billion business, and is considered one of Bezos's most trusted lieutenants.Jeff Blackburn, SVP, Business and Corporate DevelopmentBlackburn runs newer parts of Amazon, such as Prime Video and its advertising business. He also oversees the company's M&amp;A and investment arms. Blackburn, who joined Amazon in 1998, is also considered one of the closest advisers to Bezos. He's currently taking a one-year sabbatical.Dave Limp, SVP, Amazon Devices, Digital ManagementLimp is Amazon's hardware boss. He runs the secretive Lab126 team and other parts of Amazon's hardware business, such as the Alexa voice-assistant. He joined Amazon in 2010.Jay Carney, SVP, Global Corporate AffairsCarney runs all press and policy teams at Amazon. His role has grown in importance lately as Amazon has faced a more hostile regulatory environment. Carney previously served as the White House press secretary for President Barack Obama.Brian Olsavsky, SVP and CFOOlsavsky is in charge of Amazon's finances. He's best known for taking the company's earnings call every quarter. After joining Amazon in 2002, he was promoted to CFO in 2015.David Zapolsky, SVP &amp; General Counsel, LegalZapolsky is Amazon's top lawyer. He oversees Amazon's legal and compliance issues. He became the general counsel in 2014, nearly 15 years after joining Amazon.Beth Galetti, SVP, Human ResourcesGaletti is in charge of Amazon's human resources division. Her responsibilities include hiring and employee benefits, as well as performance reviews. She was named the HR chief in 2016, just three years after joining Amazon.John Connors, Executive AssistantConnors has been Bezos's executive assistant for the past two decades. That loyalty has earned Bezos's respect, as he thanked Connors in an <a href="https://www.instagram.com/p/Bwo92Hmn9yN/?hl=en">Instagram post</a> last year for his continued service. "You're a big reason I'm able to be so busy and not go nuts - in fact, you somehow even make it calm!" Bezos wrote.Paul Kotas, SVP of Amazon AdvertisingKotas joined Amazon in 1999, after a brief stint at D.E. Shaw, Bezos's former employer. He's in charge of Amazon's advertising business, which has been one of the fastest growing and most profitable parts of the company in recent years.Mike Hopkins, SVP of Amazon Video and StudiosHopkins, the former chairman of Sony Pictures, joined Amazon last month, as the new leader of Amazon's video streaming and content business. Previously, he was also the CEO of Hulu and the president of distribution for Fox Networks Group.Peter Krawiec, VP of worldwide corporate developmentKrawiec leads Amazon's corporate development group, overseeing the company's acquisitions, investments, and partnerships. He joined Amazon in 2004. His role has become more important as Amazon has become a more active buyer and investor in recent years.<a href="https://www.businessinsider.com/intelligence/30-big-tech-predictions-for-2020?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=amazon&amp;itm_campaign=30-big-tech-predictions-for-2020"><img src="https://static.businessinsider.com/image/5e3895ed5bc79c3adb162707" alt="Exclusive FREE Report: 30 Big Tech Predictions for 2020 by Business Insider Intelligence" style="margin: 0 auto !important; width: 100% !important; min-width: 280px !important; max-width: 640px !important" /></a>

Amazon's advertising boss now reports directly to Jeff Bezos, a change that shows how serious of a threat it is to Google and Facebook's core business

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5919d4d21442931c008b56a6-2400/gettyimages-450831324.jpg" alt="Jeff Bezos" data-mce-source="David Ryder/Getty" />David Ryder/Getty</div></div></div><ul><li>Amazon, Berkshire Hathaway and JPMorgan are teaming up to form an independent venture that'll be focused on healthcare for their US employees. </li><li>The venture will be nonprofit, and its initial focus will be on technology solutions, the companies said in a press release.</li><li>Beyond that, we don't have many details about whether that means the companies will team up to form a health insurance plan, or another way to tackle healthcare spending. </li></ul><hr /> It's official: Amazon is getting into healthcare. Amazon, along with Warren Buffett's Berkshire Hathaway and JPMorgan, are teaming up to form an independent venture that'll be focused on healthcare for their US employees. "The healthcare system is complex, and we enter into this challenge open-eyed about the degree of difficulty," Amazon CEO Jeff Bezos said, the first time he's addressed the company's healthcare interests since news the online retail giant was making moves to potentially enter the sector bubbled up <a href="http://www.businessinsider.com/cvs-stock-price-gets-whacked-as-amazon-stock-price-surges-2017-6">in 2017</a>. "Hard as it might be, reducing healthcare's burden on the economy while improving outcomes for employees and their families would be worth the effort. Success is going to require talented experts, a beginner's mind, and a long-term orientation."<h2>Here's what we know about the new venture</h2><ul><li>The new independent company will be nonprofit.</li><li>To start, the focus of the company will be on technology solutions that will provide "simplified, high-quality and transparent healthcare at a reasonable cost."</li><li>The venture will be geared toward employees of the three companies, rather than healthcare consumers overall in the US, though <a href="https://www.businesswire.com/news/home/20180130005676/en/">JPMorgan CEO Jamie Dimon said</a> that potentially, all Americans could benefit. </li><li>The hope is to lower the cost of healthcare while at the same time improving health outcomes and patient experiences.</li></ul>Beyond that, there aren't a lot of specifics about how the three companies will reach the goal of lowering costs and improving outcomes."Our group does not come to this problem with answers. But we also do not accept it as inevitable," Buffett said in the release. In its initial stages, the venture will be led by Berkshire Hathaway investment officer Todd Combs, JPMorgan managing director Marvelle Sullivan Berchtold, and Amazon senior vice president Beth Galetti.Combs has been <a href="https://finance.yahoo.com/news/warren-buffetts-money-managers-todd-combs-ted-weschler-speak-142643892.html">frequently cited as Buffett's potential successor</a> and also serves as a <a href="https://www.jpmorganchase.com/corporate/About-JPMC/board-of-directors.htm">board member at JPMorgan</a>. Sullivan Berchtold joined JPMorgan in August 2017, according to her LinkedIn page. Prior to working at JPMorgan, she was the global head of mergers and acquisitions at the pharmaceutical giant Novartis. Galetti is the senior vice president of human resources at Amazon, according to LinkedIn. It's still unclear whether the joint venture will create its own health plan, or if it will take another approach to tackling healthcare costs for employers. Even so, the news was enough to send healthcare stocks - <a href="http://markets.businessinsider.com/news/stocks/healthcare-stocks-smoked-jpmorgan-amazon-and-berkshire-hathaway-team-up-2018-1-1014555404">especially pharmaceutical supply chain members and health insurers</a> - plummeting on Tuesday morning. The companies also noted that more details about the venture will be announced later, including where it will be based. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/fund-manager-shares-what-everyone-gets-wrong-about-economy-2018-1">A $445 billion fund manager explains what everyone gets wrong about the economy</a></h3> <div> <iframe class="bijwplayerclass" data-player="jwplayer" src="https://content.jwplatform.com/players/AAv1V5c2-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;" allowfullscreen=""></iframe><script>function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</script> </div> </div>

You Searched For "Beth Galetti" and got 5 results

A leaked memo reveals Amazon's reported efforts to mount a PR campaign against a worker it fired after he led a protest calling for better safety standards at warehouses amid the coronavirus

Tyler Sonnemaker,Bryan Pietsch

Jeff Bezos is having a tough start to the year - Meet the Amazon CEO's top 9 direct reports that he's relying on to run the company

Eugene Kim

Amazon commits $700 million to giant retraining scheme for 100,000 US workers

Mary Hanbury

Amazon's advertising boss now reports directly to Jeff Bezos, a change that shows how serious of a threat it is to Google and Facebook's core business

Eugene Kim

What we know about the new healthcare company Amazon, JPMorgan, and Berkshire Hathaway are forming

Lydia Ramsey