Jeff Bezos: Amazon Founder to Step Down as the CEO of the Company

Jeff Bezos will transition to Executive Chair of the Amazon Board

Jeff Bezos: Amazon Founder to Step Down as the CEO of the Company
Jeff Bezos

The founder of Amazon, Jeff Bezos, has decided to step down as the CEO of the e-commerce giant and will be handing over the reins to Andy Jassy. He announced this change via an email to the employees, which is now available online.

 

Announcing his plans in the email. Jeff Bezos stated “I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO. In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives.”

 

It must be highlighted here that Jeff Bezos started the company in 1994 from his parents’ garage and intended Amazon to be an online bookstore. He then led the company towards success, and now it has become the most dominant e-commerce platform in the world.

Amazon grew considerably during the coronavirus pandemic as people worldwide switched to online shopping due to the strict social distancing measures and lockdowns that were implemented. The growth also ensured that Jeff Bezos became one of the richest men in the world.

 

Though Amazon’s success story is an inspiration for millions, the company has faced its share of criticism as well. It has been accused of poor treatment of employees and creating cutthroat competition among cities to host its headquarters. Its data collection strategies have also been questioned.

 

Jeff Bezos showed optimism towards the company’s future when he wrote, “We have things in the pipeline that will continue to astonish. We serve individuals and enterprises, and we’ve pioneered two complete industries and a whole new class of devices. We are leaders in areas as varied as machine learning and logistics, and if an Amazonian’s idea requires yet another new institutional skill, we’re flexible enough and patient enough to learn it.”

The news of Jeff Bezos stepping down as Amazon’s CEO came when the company announced the impressive Q4 2020 numbers. The company’s net sales grew from USD 87.44 (About AUD 114.84) billion to USD 121.56 (About AUD 159.66) billion.

 

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