Jeff Bezos Will Step Down As Amazon’s CEO This Year

Jeff Bezos, Amazon’s founder, will step down as the CEO of Amazon in the third quarter of this year and transition to the executive chair of the company’s board. Bezos announced this via a mail to the employees of the company. 

New CEO: Andy Jassy will be replacing Jeff Bezos as the CEO of Amazon. Andy current is the Chief Executive Officer (CEO) of Amazon Web Services. 

Why Now: If see the current sales number of Amazon we can see that Amazon is in a very good position. Net sales increased to $125.6 billion in the fourth quarter, compared to $84.4 billion in the fourth quarter of 2019, and net sales in 2020 increased to $386.1 billion compared to $280.5 billion in 2019. 

  • As the founder and current CEO of the company, we would never want to leave your post at the worst time of the company. But for Amazon, as we can see from the sale number, it best time if you want to replace the CEO.
  • But at the same time, it is also true that governments are also skeptical about the size and power of Amazon and they are pushing Amazon whenever they can. 

Who is Andy Jassy: Jassy joined Amazon in 1997. He has an MBA from Harvard Business School. He founded Amazon Web Services (AWS) and made it a commercial success. 

Why Andy Jassy: Cloud computing is the future. Its market value is increasing day by day. And being the leader of Cloud Computing Amazon knows that very well. AWS or Amazon Web Services is currently the most profitable business of Amazon. So it’s not a wonder to make the head of AWS, head of Amazon. 

Bezos’s Future plan: Jeff Bezos isn’t retiring or leaving Amazon. He is simply transitioning to the executive chair. Bezos, who is the company’s biggest shareholder, will still have broad influence over Amazon.

  • He also plans to shift his energy towards the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and his other passions. 
  • In his own words, “I’ve never had more energy, and this isn’t about retiring. I’m super passionate about the impact I think these organizations can have.”

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