Jeff Bezos announced yesterday that he will step down as CEO of Amazon, handing over the helm of the company he founded 27 years ago to Andy Jassy.
Of course, Bezos won't be leaving the company. He will take over the role of chairman of the board in the third quarter of 2021, which begins July 1. Bezos' successor, Andy Jassy, is CEO of Amazon Web Services.
In a memo to employees, Jeff Bezos said his resignation as Amazon CEO will give him “the time and energy he needs to focus on Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post and his other passions.”
Of course, the announcement came as a surprise to the entire business community, although the transition does not necessarily mean that there will be any major changes to Amazon's business . It should be noted that the announcement of the resignation came at a time when the 's excellent financial results company. were also announced The company's revenue reached about 21 billion dollars , almost double the previous year.
Jeff Bezos is stepping away from Amazon at a time when its value is hovering around $1.7 trillion, making it one of the most valuable companies in the world.
It remains to be seen what impact this CEO change will have on the company's business operations and how active Jeff Bezos will be in his new position. We've seen other big tech executives step down from the CEO position but remain extremely active (e.g. Larry Ellison at Oracle and Bill Gates at Microsoft). Bezos remains one of Amazon's largest shareholders.
“I will reiterate that Jeff Bezos is not leaving,” Brian Olsavsky, Amazon’s chief financial officer, told investors. “He will be chairman of the board, an extremely important role, extremely active in the Amazon success story.”
As we said above, Jeff Bezos' place will be taken by Andy Jassy, a man who has been working for Amazon for years, specifically since 1997.Jassy created the cloud services , which started as a small addition to its e-commerce operations, but in recent years has grown to represent about 60% of the company's operating profits.
Bezos founded Amazon in 1994 as an online bookstore and gradually made it one of the largest companies in the US with a network of facilities that touches almost every part of the country. He is one of the richest people in the world, and for some years held the top spot on that list.
Jeff Bezos believes that stepping down as Amazon CEO will give him time to focus on his other businesses and philanthropic work. He said he plans to focus on his Day 1 Fund and Bezos Earth Fund , which focus on helping homeless families and climate change, respectively.
Source: NBC News
