Amazon CEO Jeff Bezos to step down
Amazon founder Jeff Bezos will later this year of 2021 step down from his role as chief executive officer and transition to the role of executive chair, the company said Tuesday. His position will be replaced by Andy Jassy.
Jeff Bezos has been Amazon’s CEO since its founding years in 1995. Bezos in his role oversaw Amazon’s growth from an online bookseller into a $1.7 trillion global retail and logistics behemoth, which has also made Bezos one of the world’s richest people.
His successor Jassy has worked for Amazon since 1997 and currently serves as CEO of the company’s cloud business, Amazon Web Services, which is currently its biggest profit driver. It is only fair to offer him the position as he grew Amazon and has been one of the longstanding members of the company.
“This journey began some 27 years ago. Amazon was only an idea, and it had no name,” Bezos wrote a letter to employees Tuesday. “The question I was asked most frequently at that time was, ‘What’s the internet?’ … Today, we employ 1.3 million talented, dedicated people, serve hundreds of millions of customers and businesses, and are widely recognized as one of the most successful companies in the world.”
The letter was written as part of Amazon’s fourth-quarter earnings report. The company is Wallstreet guru, and beats all the companies there in terms of its projections for both sales and profit, to put the cherry on top, the pandemic boosted its retail and cloud businesses.