Amazon founder Jeff Bezos has confirmed that he will be stepping down as Amazon’s CEO later this year. Bezos, who started the company 27 years ago as an internet bookseller, revealed that it will step down as CEO in the third quarter of this year.
He further added current Cloud Computing Chief Andy Jassy will become Amazon’s next chief executive officer. Bezos revealed this news via a letter to Amazon employees that was published Tuesday afternoon. Here’s what you need to know about the latest transition of Jeff Bezos to a new role.
Amazon founder and current CEO Jeff Bezos is going to soon be transitioning to executive seat of the provider sometime in Q3 of this year, using present AWS CEO Andy Jassy carrying over the leading executive function in the trade company. Amazon declared the news along with its earnings results on Tuesday.
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Jeff Bezos To Step Down as Amazon’s CEO
Jeff Bezos supported this information using a letter to workers. He explained he is going to be compared into Executive Chair of the Amazon Board. What’s more, Andy Jassy who’s now the head of AWS will eventually become another CEO. “From the Exec Chair function, I intend to concentrate my energies and focus on new goods and ancient initiatives.
Andy is well-known in the business and continues to be at Amazon nearly as long as I have. He’ll be an exceptional leader, and he has my entire confidence,” Bezos said.
Bezos founded the firm Amazon 27 decades ago as an online bookseller platform. But now it employs 1.3 million individuals that serve countless millions of consumers and companies.
The business has been in the forefront of invention such as 1-Click, personalized recommendations, Prime’s insanely-fast delivery, Just Walk shopping, the Climate Pledge, Kindle, Alexa, market, infrastructure cloud computing, Career Choice, and even more.
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He added that he’ll remain engaged in significant Amazon initiatives. ” As Exec Chair I’ll remain engaged in significant Amazon initiatives but also have enough time and energy I want to center on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, ” The Washington Post, along with also my other passions,” he added.
Andy Jassy combined Amazon in 1997, the exact same year once the firm went public. He’s supposedly a close confidant of both Bezos and has directed Amazon’s cloud-computing company since 2003. Under his direction, the AWS system was able to create over $40 billion in yearly earnings.
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