The former richest man in the world, and the founder of the largest e-Commerce business, Amazon, Jeff Bezos has announced he’s stepping down as the CEO of Amazon. Bezos on Tuesday told its 1.3 million employees through an e-mail that he would be stepping down from his position of CEO of Amazon by the end of the third quarter of this year. After leaving his post as the CEO, he will join as the executive chairman of the board of directors of the company. On the other hand, Andy Jassy, the head of Amazon’s cloud division Amazon Web Services (AWS), will replace Bezos as the CEO of Amazon.
More About Jeff Bezos
Jeff Bezos is the founder of Amazon, one of the biggest e-commerce platforms in the world. He is a 57 years old American entrepreneur who founded Amazon on July 5, 1994. The company started as a seller of music and videos and became public only in three years of its founding. Today, the company is one of the biggest players in the online selling and purchasing business, offering major sales in grocery to electronics. Along with e-Commerce, the company is a major cloud computing provider, and the subsidiary that provides the service is called AWS (Amazon Web Service).
Other than that, Amazon’s products and services include Kindle, FireTv, Alexa, Amazon Prime, Amazon Drive, Echo, Amazon Wireless, etc. Last year the company recorded a total sales of $386 Billion, 38% more than its sales in 2019. Jeff Bezos, too, for the past three consecutive years has been named as the richest person in the world by Forbes, having $202 billion net worth in 2020. Though this year he was replaced by the Tesla supremo Elon Musk.
What the Letter Said
Amazon’s current CEO, Jeff Bezos, announced he’s stepping down as the CEO of Amazon through an e-mail. He wrote, “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. 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.” In the letter, he talked about his 27 years of journey with Amazon and mentioned all the hard work put by his 1.3 million employees into the growth of the company.
Addressing his employees, he said, “I find my work meaningful and fun. I get to work with the smartest, most talented, most ingenious teammates. When times have been good, you’ve been humble. When times have been tough, you’ve been strong and supportive, and we’ve made each other laugh. It is a joy to work on this team.” He even talked about how Amazon has been helping the world with innovation, and about the rise in competition in this field, that too, inspired by Amazon only. He also wrote that the company like now will be focusing on new products and services for the people.
Not the End
Though Bezos is quitting as the CEO, he will be chairing the board of executives of the company. Also, being the major shareholder in Amazon, he will have most of the company’s operations under his control. On the other hand, the upcoming CEO of Amazon, Andy Jassy, has been working with Amazon since 1997 and has played a major role in the growth of AWS. About Andy Bezos said that since Andy has been working with Amazon since the beginning, everyone inside Amazon is familiar with him and Bezos has all the confidence in Andy.
The reaction of the Rivals
Amazon’s major rivals, including Sunder Pichai from Google, Marc Benioff from SalesForcea, and Satya Nadela the CEO of Microsoft, congratulated Bezos on joining as the chairman of the board of directors of Amazon. Sunder Pichai toasted Bezos for his two major projects Day 1 and the Earth Fund through his official Twitter account. Satya Nadela also took it to Twitter to congratulate the new Chairman and the upcoming CEO of Amazon for their new job roles. Marc Benioff, CEO of Salesforce also expressed his joy by writing on Twitter that Amazon could not be in better hands.
Yashica is a Software Engineer turned Content Writer, who loves to write on social causes and expertise in writing technical stuff. She loves to watch movies and explore new places. She believes that you need to live once before you die. So experimenting with her life and career choices, she is trying to live her life to the fullest.