Billionaire Jeff Bezos resigns as the Amazon CEO on July 5th, exactly 27 years after its formation. He chooses this date as it is sentimental for him because Amazon was incorporated on the same day in 1994, he said in a virtual annual shareholder meeting. He transfers his CEO title to Andy Jassy, the head of Amazon’s cloud-computing division, Amazon Web Services. Jeff still plays a major role in the company as Executive Chair, where he focuses his attention on the new products and primary initiatives.
The Trillion-dollar company announced in February that Bezos would switch from CEO to Executive Chair, taking more time to spend on his other ventures like space company ‘Blue Origin’ and philanthropic activities, Bezos Earth Fund, and Day 1 Fund. Even though he is the greatest shareholder of the company, won’t be involved in the day-by-day operations.
Who is Andy Jassy?
Andy Jassy who is a veteran at Amazon for more than two decades who have run the Amazon Web Services is one of Bezos’s most trusted members and often referred to as Bezos’ shadow in the early days. He is a business school graduate from Harvard, carrying the Amazon DNA in him. “Jassy is going to be an outgoing leader and, he has my full confidence. He has the highest of high standards, and I guarantee, that Andy will never let the universe make us typical. He has the energy needed to keep alive in us what made us special.”, Jeff Bezos said.
Amazon remains the second-biggest private company in the US behind Walmart, which witnessed a huge rise in their profits during the pandemic times as everyone switched to e-commerce. The 57-year-old, who owns a newspaper “The Washington Post” and “Blue Origin” mainly focuses on customer satisfaction and is customer-obsessed as many say. He’ll be flying to space in the New Shepherd on July 20th along with his brother Mark to fulfill his childhood dream.