Amazon CEO Jeff Bezos will step down as CEO and transition to a replacement position at the corporate as executive chair of the Amazon board in Q3 2021.
Andy Jassy who currently is CEO of Amazon Web Services (AWS) will replace Bezos as Amazon CEO.
Being the CEO of Amazon may be a deep responsibility and it’s consuming. Once you have a responsibility like that it’s hard to place attention on anything commented Bezos in an email announcing the change. As Exec Chair i will be able to stay engaged in important Amazon initiatives. But even have the time and energy i want to specialize in the Day 1 Fund, the Bezos Earth Fund, Blue Origin The Washington Post and my other passions.
Bezos has served as Amazon’s CEO since 1994.
Bezos has served as Amazon’s CEO since he founded the corporate in 1994. He has presided over the e-commerce giant because it grew from a web bookstore into one among the foremost dominant technology companies within the world.
Under Bezos stewardship Amazon has come to rule over internet commerce established itself as a backbone of the infrastructure of the fashionable web through its Amazon Web Services products. Built a subscription empire around its Amazon Prime services launched popular technology products just like the Echo and Kindle lines of devices and even started dabbling in physical retail through grocery stores and a purchase of Whole Foods.
He has also prospered as head of the corporate with skyrocketing wealth that (until just a couple of weeks ago) made him the only richest human on Earth with a net worth of nearly $180 billion.
Bezos New projects and initiatives.
The Bezos transition to executive chairman of Amazon’s board will mean he’ll be slightly more faraway from the day-to-day business of running the nearly $1.7 trillion company. Allowing him to focus his energies and a spotlight on new products and early initiatives. Those projects will include the $10 billion Bezos Earth Fund which Bezos established last year and Blue Origins his aerospace firm which recently resumed test flights at the top of 2020.
Jassy may be a familiar face at the corporate , having joined back in 1997. He has led the Amazon Web Services team since it had been founded in 2003 and was named the CEO of AWS in 2016. The selection of Jassy — who has headed Amazon’s cloud service business since the start — over a retail or hardware executive may be a telling one for Amazon’s priorities as a corporation .
Amazon’s cloud business may be a huge a part of the corporate (and the web at large to the purpose where AWS outages can take down whole swaths of internet for hours). And its new leadership choice reflects that. It’s also a parallel to other major tech CEOs, like Microsoft’s Satya Nadella. Who was similarly an instrumental a part of the company’s cloud and server business before taking charge of Microsoft in 2014.
It’ll still be a while before Jassy takes over though Bezos isn’t set to transition to his new role until Q3 2021.