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Jeff Bezos to step down as Amazon’s CEO

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Jeff Bezos to step down as Amazon's CEO
Jeff Bezos to step down as Amazon's CEO

Amazon’s founder and CEO Jeff Bezos will resign from his position in 2021’s third quarter. He will then transition to one of the company’s executive board. Andy Jassy, Amazon Web Services’ CEO, will then replace Bezos as the new CEO, stated through CNBC’s report.

In a statement, Bezos expressed to his employees that he will be stepping down as CEO and will take on the Executive Chair and Andy Jassy will replace him as CEO. He then continued, “In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives. Andy is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader, and he has my full confidence.”

He then continues and says that he will have a more prominent role on the executive chair and focus on their initiatives on Amazon’s Day 1 Fund, the Bezos Earth Fund, Blue Origin, the Washington Post, and many more.

Amazon was founded back in 1994 by Jeff Bezos himself which started as an online bookstore and grew into a massive online retailer. Now, Amazon is competing in other sectors such as food delivery, technology, and even movie and television streaming. Now, Amazon had passed a $1 trillion market cap in 2020 as Bezos as its CEO. And according to NPR’s report last December, Bezos is now worth $182 billion making him the wealthiest person on the planet.

Andy Jassy on the other hand joined Amazon in 1997. Since its launch back in 2006, Jassy had been leading the team on Amazon Web Services, which is responsible mainly for cloud computing and API services to individuals and companies. This includes data storage, networking, developer tools, and more. In October 2020, AWS was responsible for Amazon’s success accounting for a 52% operating income, reported by CNBC.

AWS also houses various game developers such as Clash of Clans’ developer Supercell, Borderlands 3’s Gearbox Software, and Monster Hunter World’s Capcom.

Amazon has also experienced several fallbacks during the previous months with the recent shut down of their free-to-play team shooter Crucible. Also, according to Bloomberg, there were alleged sexual discrimination as well as mismanagement in Amazon Game Studios.

Due to the COVID-19 pandemic, according to New York Times, Bezos somehow had pulled back from Amazon’s operation which made several logistical complications in the company.

Bezos has also been criticized countless times due to his anti-worker policies. This includes aggressively monitoring his employees to discourage unionization. Last December, an Amazon warehouse was shut down temporarily because of a number of workers who tested positive with COVID-19. In October, Amazon has reported that over 20,000 of its workers had tested positive for the virus during the first six months of the pandemic.

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Read: Amazon orders 1,800 Mercedes-Benz electric vans for European deliveries

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