Amazon’s founder Jeff Bezos to step down as CEO; Andy Jassy to take over the position

WASHINGTON: World e-commerce giant Amazon founder and CEO Jeff Bezos has made a sensational decision.

Amazon has announced that its founder, CEO will step down as CEO from the third quarter of this year and mentioned that he will continue as executive chairman and the shareholder.

In a letter to employees on the occasion, he said that ‘Amazon’ is an innovation. Jeff Bezos will be replaced by Andy Jesse, head of Amazon Web Services, as the next CEO.

Bezos, 57, founded Amazon 27 years ago, in 1994. Starting as a small company, The company initially started to sell books on the Internet.

Over the years, the company has grown its business around the world including fields such as digital payment, streaming of music, food supply, video streaming, and education.

It has gradually grown to become the largest e-commerce giant in the world. Net sales reached $ 125.56 billion as it became the world’s largest online retailer.

In addition to the company, Bezos’ assets have also grown significantly. Becoming the richest man in the world until recently when Elon musk took over him as the richest man in the world.

 Amazon currently has $ 1.6 trillion in assets. He is currently focusing on the Amazon Earth Fund, the Blue Origin Spaceship, and the Amazon Day 1 Fund too.

In addition to the company’s profits in the quarters in a row. Amazon has more than $ 100 billion in sales in this quarter.

Next in line

Amazon founder and chief executive Jeff Bezos’ sudden decision came out as a shock to tech giants as well as others.

Bezos has announced that he will be stepping down as Amazon CEO this summer. Also decided to appoint Andy Jassy (53) as the next Amazon CEO.

Andy Jesse may not be so well known to the outside world but he has been working in the company ever since. Jessy joined Amazon in 1997 shortly after graduation.

Andy Jassy, who will take over as CEO of Amazon after Bezos, is currently head of Amazon’s Web Services cloud computing division.

 Jassy is one of the most talented top executives. Has played a key role in providing cloud-based services to top tech companies.

It is noteworthy that the profits of Amazon Web Services under Jassy are at the top of Amazon’s profits. Amazon Web Services leases software and programming to companies to keep their operations running smoothly.

 In this order, it is asserting its dominance in the cloud computing market with exclusive services.

Jassy graduated with an MBA from Harvard Business School in 1997. Jessy wrote the final exam on HBS on the first Friday in May 1997 and immediately joined Amazon on Monday. Working as a technical assistant to Bezos.

Although at first, he was not clear about his job at Amazon, he remembered that he had imagined that this job would be very important for Amazon.

Over time he became a key figure in the company. Jassy led Amazon Web Services in 2006, making it competitive with companies such as Microsoft and Google.

Jassy has more than $30 million in Amazon stocks. He was the CEO of AWS in 2020 with his base salary of $175,000.

Andry Jassy is a big music and sports fan. Jassy has also voiced out about issues such as police brutality in America, black human rights, and LGBTQ rights.

 Jassy’s wife is Elena Rochelle Kaplan. The couple has two children. If we want to have long-term success. we have to recreate ourselves from time to time, Jassy.

It was almost determined after Jeff Wilke the consumer chief at amazon announced his retirement. It was fairly clear that Jassy would be the next CEO at Amazon. As Wilke was the second-highest official of Amazon.

Bezos said in a letter to employees that he will continue to be an advisor to Amazon despite being relieved of all responsibilities by the third quarter of this fiscal year.

He revealed that he wants to focus on philanthropy activities and other ventures in the future.

Also Read: The official Synopsis of the Amazon Studios’: ‘The Lord of the Rings’ prequel series revealed