Billionaire entrepreneur Jeff Bezos has stepped down as CEO of Amazon, handing his position to Andy Jassy.
In February of 2021, Amazon announced, “Founder and CEO Jeff Bezos will transition to the role of Executive Chair in Q3, Andy Jassy to become Chief Executive Officer of Amazon.” Jassy led Amazon’s cloud-computing operations, after holding a host of other operations at the company since he joined in 1997. Bezos founded Amazon in 1995 and has since developed the company into numerous profitable sectors, such as Amazon Prime, Amazon Web Services, and Amazon Pharmacy.
“Amazon is what it is because of invention. We do crazy things together and then make them normal. We pioneered customer reviews, 1-Click, personalized recommendations, Prime’s insanely-fast shipping, Just Walk Out shopping, the Climate Pledge, Kindle, Alexa, marketplace, infrastructure cloud computing, Career Choice, and much more,” said Jeff Bezos, upon his step down from CEO.
“If you do it right, a few years after a surprising invention, the new thing has become normal. People yawn. That yawn is the greatest compliment an inventor can receive. When you look at our financial results, what you’re 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.”
Currently, Bezos is the largest shareholder in the company, with a stake worth over $180 billion. Within his position as an executive chair, Bezos will continue his influence primarily with new products and company endeavors.
ARTICLE: ANTOINETTE AHO
MANAGING EDITOR: CARSON CHOATE
PHOTO CREDITS: CNBC
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