- Bezos to step down as Amazon CEO,
- Bezos will become executive chairman,
- Andy Jassy to assume the Post.
Bezos is not leaving entirely but will assume the role of executive chairman, as he seeks more “time and energy to focus on his other business ventures.
“Being the CEO of Amazon is a deep responsibility, and it’s consuming. When you have a responsibility like that, it’s hard to put attention on anything else,
As Executive Chair I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions.” Bbc quoted Mr Bezos letter to Amazon staff on 2 February 2021.
Bezos has been CEO of Amazon since 1994 when he started it as an online bookshop. Over time Amazon has developed to become an e-commerce network of high-quality service providers fulfilling services sold by amazon and actual orders. Their services include assembly services, home theatre services, and appliances installation services.
Worth $194.2 Billion, Jeff Bezos is the worlds richest man ahead of Elon Musk (Tesla Founder) who has a net worth of $181.9 Billion on the Forbes real-time billionaires list. Amazon is worth $1.6 Trillion and employs over 1.2 million people worldwide.
The Post will be handed over to Andy Jassy who currently leads Amazons cloud computing business. The exchange process is set to take place in the second half of 2021.
Mr Jassy has been with Amazon since 1997 and has been endorsed by Bezos as an outstanding leader.
“Andy is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader, and he has my full confidence,” He said.
However, these changes will not be that much of a big deal because as executive chairman and founder, Bezos will still have the majority of the power over the company. Also, Andy Jassy who is set to replace him has been with Amazon as much as Bezos himself.