Amazon owner, Jeff Bezos, has threw in the towel as chief executive of the global sales platform exactly 27 years after he founded the outfit. Jeff Bezoz, the American billionaire aged 57 Years and Amazon’s lion shareholder with a stake worth about $180 billion, is being replaced by Andy Jassy, the brain behind Amazon’s cloud computing division.
It will be recalled that, Bezos announced earlier this year his resolve to step down citing the need to be able to focus on other initiatives which includes but not limited to his plans for private space travel.
Announcing this new development, Bezos said he wanted to “channel [his] efforts and attention on new products and early initiatives” in his new role of executive chair. In addition, he said in a letter to Amazon employees earlier this year that, ‘‘This journey began some 27 years ago. Amazon was only an idea, and it had no name. The question I was asked most frequently at that time was, ‘What’s the internet?’ Blessedly, I haven’t had to explain that in a long while’’
“Today, we employ 1.3 million talented, dedicated people, serve hundreds of millions of customers and businesses, and are widely recognized as one of the most successful companies in the world.”
Bezos said he would “stay engaged in important Amazon initiatives” but also concentrate on projects away from the day-to-day running of the business in his new position.
He said the move would accord him the “time and energy” required to “focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post” and his “other passions”. Bezos therefore asserted his full confidence in his replacement, Mr. Jassy.
Andy is an household name in Amazon. He said, “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.” This new development, change in management, happened on Monday (6th July, 2021), exactly 27 years after Bezos founded the company as an internet bookseller.
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