Amazon Founder Jeff Bezos Plans To Step Down As CEO
Amazon Founder Jeff Bezos Plans To Step Down As CEO. Jeff Bezos the founder of Amazon announced that he will be stepping down as the company’s CEO in the third quarter of 2021. Bezos plans on transitioning into an executive chair role at the company but will also turn his attention to his other companies such as spaceflight company Blue Origin, Earth Fund and The Washington Post which he bought in 2013. “I have never had more energy and this isn’t about retiring. I am super passionate about the impact I think these organisations can have.” said Bezos in a statement.
He will be replaced by the company’s Web Services CEO Andy Jassy. Jassy joined Amazon in 1997 and has been the CEO of Amazon’s Web Services since it started. Bezos will not be involved in the day to day operations of the business but will oversee the important innovative ideas that the company seeks to take on.
“If you do it right, a few years after a surprising invention, the new thing has become normal, and people yawn. The yawn is the greatest compliment an inventor can receive. When you look at our financial results, what you are actually seeing are the long run cumulative results of invention. Right now I see Amazon at its most inventive ever, making it an optimal time for this transition.” said Bezos in a statement.
Bezos founded Amazon in 1994 in a garage in Seattle, United States. The company started out as an online bookstore but turned into the world’s largest online market place. Amazon now employs over 1 million people, serves hundreds of millions of customers and businesses and is widely recognised as one of the most successful companies in the world.
He became the richest man in the world in July 2017 until he was surpassed by Tesla’s CEO Elon Musk in 2021. This does not mean he is out of the race as yet because he still has investments and companies that could turn to be lucrative and earn him the top spot again in the near future.
