Mike Recupero, ex-Alexa CFO, takes finance VP role as Amazon scales its satellite unit with an $11.6B Globalstar deal and multibillion-dollar buildout.
Amazon's satellite unit, Leo, has hired its first dedicated finance vice president, a signal the company is treating the venture as a standalone business with its own financial structure. Mike Recupero, formerly the finance chief for Amazon's Alexa division, took the newly created role earlier this month, according to people familiar with the move.
Recupero spent about a year as GameStop's CFO before returning to Amazon, where he also led finance for Prime Video and North America retail. At Leo, his primary responsibility will be the multibillion-dollar infrastructure buildout – satellite manufacturing, launches, and the integration of Globalstar, the satellite communications company Amazon is buying for $11.6 billion.
Until now, Leo's finances were handled by executives who also managed Alexa, supported by more junior finance leaders. The appointment gives Leo a dedicated financial steward as it scales from development into commercial operations. CEO Andy Jassy has said Leo already has revenue commitments from enterprise and government customers and is expected to produce meaningful growth for Amazon.
The company said earlier this month that Leo has completed 14 missions and launched 396 satellites, making it the third-largest satellite constellation in orbit. Wall Street is taking notice. Bank of America analysts estimated Leo could generate $20 billion to $25 billion in annual revenue by 2032 and eventually be worth $200 billion to $275 billion.
The enthusiasm has not erased the risks. A Blue Origin rocket Amazon plans to use for future Leo missions exploded during a ground test in June. Leo's technology VP Rajeev Badyal told employees at the time that such setbacks are an expected part of spaceflight and that the company would continue pushing ahead.
Amit Singh has replaced Recupero as Alexa's finance lead.
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