Tuesday , July 27 2021

Jeff Bezos Takes a Step Down As CEO of Amazon

The ecommerce giant Amazon has announced a change in its board of directors. And it is that the founder and CEO of the company, Jeff Bezos, will leave his post in the first quarter of the year, but will continue to be linked to the company as CEO.

 

This is a major change in Amazon’s chain of command, which from now on will be led by Andy Jassy, who until now has been the director of Amazon Web Services (AWS) cloud computing service.

 

In this way, one of the great unknowns about who will be the heir to the Amazon empire is resolved once Bezos takes a step back.

 

According to Reuters, Jeff Bezos is ending his role as CEO of Amazon on a high note. And is that the ecommerce giant, which began its journey 27 years ago, is now one of the most important companies in the world, and registered three consecutive record profits after the losses registered in previous decades. And more this year, that the confinement has forced them to make online purchases. In fact, this year, Amazon has posted quarterly sales of over $ 100 billion for the first time.

 

In a letter to investors, Jeff Bezos has pointed out that when you look at Amazon’s financial results, what you are really seeing is the long-term and cumulative results of the invention. In this sense, Jeff Bezos has stressed that “I see Amazon with more inventiveness than ever, which is the optimal conditions to carry out this transition.”

 

Jassy has extensive experience at Amazon, entering in 1997 after his studies at Harvard Business School, and was commissioned to found AWS, growing it to a cloud platform that is currently being used by millions of customers.

 

The news agency has also indicated that Jassy is known for understanding highly technical details and has regularly criticized rivals, such as Microsoft’s cloud service.

 

Under Jass’s leadership, Amazon’s cloud business has recruited major clients including Verizon, McDonald’s, and Honeywell.

 

The announcement of these changes in Amazon’s top management have been accompanied by the dissemination of the results corresponding to its fiscal year 2020, when the company has obtained net profits of 21,331 million dollars, almost double that registered in 2019, when it reached 11,588 million dollars.

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