Jeff Bezos, Amazon Founder will be stepping down as the Chief Executive of Amazon. He said he would become executive chairman, as this will give him the time he needs to focus on his other businesses.
Mr. Bezos who is currently the richest man in the world will make Andy Jassy Chief Executive. Andy is currently the leader of computing business in Amazon. According to the company, Mr. Andy will assume his new position in the second half of 2021.
Mr. Bezo said “Being Amazon’s CEO comes with a lot of responsibility, and it’s time and energy-consuming. When you are charged with such a responsibility, it’s very difficult to pay attention on anything else.”
As Exec Chairman, I am always engaged in several important Amazon initiatives, according to Mr. Bezo. Mr. Bezo, has been the Chief Executive of Amazon since it started as an online bookshop. The firm now has 1.3 million employees across the globe. This firm does things like package delivery, advertising, and streaming video to cloud services.
According to the list of billionaires by Forbes, Amazon founder Mr. Bezos is worth $196.2bn. This makes him the richest man in the world. However, Tesla Elon Musk is ahead of Mr. Bezo, according to Bloomberg’s billionaire index. Amazon experienced an increase in its already explosive growth last year, as more people shopped online due to the pandemic.
Mr. Jassy has been working with Amazon for more than 23 years now. He has helped in the development of Amazon Web Services. This division offers cloud computing and shortage services for companies and government such as McDonald’s and Netflix.
When Mr. Bezos decided to step down as Chief Executive everyone was surprised. However, investors seemed to no to be surprised. Brian Olsavsky, the chief financial officer of the company said Jeff is only assuming a new position, he isn’t retiring.