Amazon.com Gets Its First President

Amazon.com Inc. said it named Joseph Galli as its first president and chief operating officer after Galli decided against joining PepsiCo Inc. Galli, 41, previously was president of Black & Decker Corp.’s global power tools and accessories unit, where he built up its successful DeWalt tool line, until he resigned in April. Amazon.com is expanding its management team as it spends millions of dollars to develop new products and advertise its brand. Galli begins immediately at the Seattle-based company and will report to founder and Chief Executive Jeff Bezos. Analysts said Galli’s experience at Black & Decker in managing a large business, with a brand name, will be a big asset to Amazon.com. On Wednesday, Galli had accepted the job of president and CEO of Frito-Lay North America, PepsiCo’s domestic snack-food division. Then on Thursday, his lawyer called to say Galli would instead go to Amazon.com, said PepsiCo spokesman Richard Detwiler. Shares of Amazon.com fell $3.44 to close at $110.19 on Nasdaq.