This seems a common outcome for founders after acquisition https://www.bloomberg.com/news/articles/2023-03-01/amazon-ring-ceo-steps-aside-for-former-microsoft-meta-executive
He hasn’t been “ousted”. This has been in the works for a year. Was announced to ring employees last may/june
oust- to drive out or expel (someone) from a position or place.
It was his own choice (or that’s what his email said). He’s still in ring as chief inventor.
Not always ousted. Sometimes the founders just stick around long enough to fulfill their acquisitions’ terms.
Amazon how naive everyone in Tech is, if you aren’t from the other side. He wasn’t ousted, this was part of the initial deal thesis prior to acquisition. Jaimie steps down at a certain point, and hence his comp goes below bottom line (profit/operating income), and hence is now yellow badge, with the new CEO coming in. Amazon is not going to pay for 2x CEO comp in a single fiscal year. He was likely coerced to step down sooner rather than later with a bigger severance payment (one time cost, does not hit run rate). He won’t be at Amazon much longer.
I interviewed with him very early on even before he appeared on shark tank. What a cool person. Sad to see him ousted.
Amazon is only for sad people so no wonder a cool guy got outses