Amazon CEO Jeff Bezos steps down this summer

Posted on Wednesday, Feb 03 2021 @ 10:59 CET by Thomas De Maesschalck
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Big news from Amazon as the company's founder and CEO Jeff Bezos will step down this summer. After 27 years at the helm of world's most popular e-commerce website and cloud giant, Bezos is taking a page from Bill Gates' book and will leave his position on a high note. Bezos will become executive chairman of Amazon and the CEO role will be handed to Andy Jassy, the current head of Amazon's AWS cloud computing unit.
In a note to staff, Bezos said he will still oversee Amazon's continuing progress while focusing on things including his rocket biz Blue Origin and newspaper The Washington Post:

In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives. 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.

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 Exec 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. I’ve never had more energy, and this isn’t about retiring.

Amazon couldn’t be better positioned for the future. We are firing on all cylinders, just as the world needs us to. We have things in the pipeline that will continue to astonish.
More details The Registere. Amazon has a stock market capitalization of $1.7 trillion. The tweet below gives a very interesting overview of Amazon's revenue growth since 1997. Last year was a massive windfall for Amazon, with revenue blasting $105 billion higher than the year before. The growth posted in 2020 is almost as much as the total amount of sales Amazon generated just five years ago.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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