Last month, John Doerr, one of America’s most celebrated venture capitalists, announced that he would step down later this year from the board of Amazon.com, a company that he helped to finance and build. At the time, Amazon said Mr. Doerr “has decided not to stand for re-election and will focus more of his time on new ventures.”
John Doerr’s recent departure from the board of Amazon.com was prompted by a federal inquiry into the close ties between Amazon and Google, said people with direct knowledge of the matter.
But people with direct knowledge of the matter now say Mr. Doerr’s decision was prompted by a Federal Trade Commission inquiry into the close ties between Amazon and Google, where Mr. Doerr is also a director. It was not clear whether the commission had begun a preliminary inquiry or a formal investigation, or whether it was still looking into the matter.
Msg#: 4108700 posted 4:10 am on Apr 2, 2010 (gmt 0)
It's just business. A very similar preliminary inquiry between Apple and Google was conducted last year with execs stepping down voluntarily to close the case. Execs sometimes do step down from one company when they are involved with two successful companies. Rules weren't broken.