Jeff Bezos Stepping Down as Amazon CEO

Oni · 02-03-2021, 12:03 AM

Bezos is stepping down. It's interesting that the AWS chief will be assuming his role.

Quote:Amazon founder Jeff Bezos will step down as CEO during the third quarter, the company announced Tuesday—a surprise announcement after a blockbuster year in which Amazon’s stock soared 67% thanks to massive shifts in the retail landscape during the coronavirus pandemic.

Bezos will transition into the role of executive chair of Amazon’s board and will be replaced as CEO by Amazon Web Services chief Andy Jassy, the company said.

In a Tuesday letter to employees, Bezos said he plans to focus on “the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions.”

The announcement came as Amazon reported record sales in the fourth quarter of $125.5 billion, the first time that the company pulled in more than $100 billion in revenue in a single quarter, and profits of $7.2 billion, more than double the previous year.

Shares were flat in after-hours trading on Tuesday.

Read More: https://www.forbes.com/sites/sarahhansen...mazon-ceo/

Drako · 02-03-2021, 01:07 AM

That's a shocking story. I can definitely see where Bezos is coming from though. When you're worth nearly 200 billion, you might as well retire early and enjoy it. It's also good for his health. I'm more than sure Amazon brings in as much stress as it does billions.

UFCFAN47 · 02-03-2021, 06:58 PM

(02-03-2021, 01:07 AM)Drako Wrote: That's a shocking story. I can definitely see where Bezos is coming from though. When you're worth nearly 200 billion, you might as well retire early and enjoy it. It's also good for his health. I'm more than sure Amazon brings in as much stress as it does billions.

He did not retire/leave the company, he just stepped down as the CEO, meaning he is paying someone else to be the CEO of Amazon. It would not surprise me if he is currently working on a whole new project...Time will tell.

ff1ddaf43112 · 02-03-2021, 08:14 PM

i read once that the main sales of amazon are the AWS. I think they want to milk the cow better and thats the reason to fill the vacancy with Jassy

fsociety · 02-04-2021, 09:29 AM

yes read this new yesterday.

docvd · 02-11-2021, 08:26 PM

(02-03-2021, 08:14 PM)ff1ddaf43112 Wrote: i read once that the main sales of amazon are the AWS. I think they want to milk the cow better and thats the reason to fill the vacancy with Jassy

I am pretty sure thats the reason too. And maybe the huge amount of stress he is under.

RNixon5000 · 03-29-2021, 03:46 PM

Probably a good move. His employees aren't that happy and he gets to leave with a good name for the co.