Amazon Web Services CEO Andy Jassy will replace him in the third quarter of the year. The richest man in the world becomes chairman of the company's board of directors.
Amazon said Tuesday that Jeff Bezos, the company's founder, and the world's richest man, will step down as executive director of the technology company and become president. Amazon Web Services (AWS) CEO Andy Jassy will replace him in the third quarter of the year.
Jeff Bezos founded Amazon in 1994 and, in these 27 years, in which he has served uninterruptedly as CEO of the company, he has seen it become one of the largest companies in the world (and he, one of the richest men).
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| Source: Forbes |
But now, Bezos is leaving: starting in the third quarter of this year, he will step down from his post and take a new role at the company as 'CEO'.
From that moment on, it will be Andy Jassy, who joined Amazon in 1997 as a marketing manager and currently serves as CEO of Amazon Web Services (AWS), who will replace Bezos and take over the day-to-day management of the company.
“As an executive chairman, I intend to focus my energies and attention on new products and initiatives that are starting up. Andy is well known within the company and has been with Amazon for almost as long as I have. He will be a remarkable leader and he has all my confidence, ”announced Jeff Bezos, in a letter sent to workers.
In an email addressed to Amazon employees, he has vindicated his work at the helm of the company, recalling milestones that range from the launch of AWS, Kindle, and Alexa to being pioneers in the implementation of user reviews ... but also remember that
The news that Jeff Bezos will become chairman of Amazon's board of directors came at the time of the release of the company's report and accounts, which - unsurprisingly - reached $ 100 billion in revenue in a quarter. In fact, the American multinational reported the highest quarterly revenue ever, above analysts' forecast: $ 125.56 billion - the consensus on Wall Street was $ 119.73 billion.
Earnings per share also surprised the market, having stood at $ 14.9 per share in the fourth quarter, almost twice the 7.15 forecast by analysts.
AWS, still led by Andy Jassy, recorded revenue growth of around 28% and now represents around 52% of the group's operating revenue.
“I don't know of another company with a history of inventions as good as that of Amazon, and I believe that we are in our moment of greatest invention. I hope you are as proud of our creativity as I am. I think they should be ”, can be read in the Jeff Bezos letter to collaborators, remembering that this journey started 27 years ago.
"If you do it right, a few years after you achieve an amazing invention, novelty becomes normal. People yawn and that yawn is the highest compliment an inventor can get."
More time for philanthropy, space, and the Washington Post
Bezos says he chooses to retire now precisely because he sees Amazon "at its most inventive" and when its financial results reflect "the long-term results" of past inventions.
From now on, he explains, he will choose to focus on his philanthropic initiatives, his aerospace exploration company, and the newspaper he bought eight years ago:
"As CEO I will continue to be involved in important Amazon initiatives, but I will also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions."
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