Jeff Bezos Steps Down as Amazon CEO, Andy Jassy will be new CEO

Amazon is in the competition in almost every possible sector as of now. Jeff Bezos steps down as Amazon CEO announced today, the founder of Amazon after working 24 years as CEO stepping down decision seems something strange.

Though Jeff Bezos said, he is not leaving the Amazon. He will continue to work in Amazon as executive chairman in the third quarter this year. Though despite leaving CEO position he holds lots of shares in Amazon so he will be in control no doubt.

In September 2020, Jeff Bezos topped in Forbes list of richest Americans for the third year in a row. Jeff Bezos’s net worth has grossed almost $202 billion adding a $5.22 billion increase in a single day. So as for the new CEO, Amazon Web services head, Andy Jassy will be appointed as a CEO. He joined the company in 1997 as a marketing manager and he is currently 52 years old.

Jeff Bezos Steps Down

As Jeff Bezos steps down he wrote a letter to the employees informing them about his leave as a CEO from Amazon. Amazon is growing in every sector their stock price is now above 60% from the start. He became the richest man in the world previously. Here is the text from his letter wrote to the Amazon employees.

I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO. In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives. 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.
How did that happen? Invention. The invention is the root of our success. We’ve done crazy things together, and then made 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. If you get it right, a few years after a surprising invention, the new thing has become normal. People yawn. And that yawn is the greatest compliment an inventor can receive.
I don’t know of another company with an invention track record as good as Amazon’s, and I believe we are at our most inventive right now. I hope you are as proud of our inventiveness as I am. I think you should be.
As Amazon became large, we decided to use our scale and scope to lead on important social issues. Two high-impact examples: our $15 minimum wage and the Climate Pledge. In both cases, we staked out leadership positions and then asked others to come along with us. In both cases, it’s working. Other large companies are coming our way. I hope you’re proud of that as well.
I find my work meaningful and fun. I get to work with the smartest, most talented, most ingenious teammates. When times have been good, you’ve been humble. When times have been tough, you’ve been strong and supportive, and we’ve made each other laugh. It is a joy to work on this team.
As much as I still tap dance into the office, I’m excited about this transition. Millions of customers depend on us for our services, and more than a million employees depend on us for their livelihoods. Being the CEO of Amazon is a deep responsibility, and it’s consuming. When you have a responsibility like that, it’s hard to put attention on anything else. As Exec Chair I will stay engaged in important Amazon initiatives but 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. I’ve never had more energy, and this isn’t about retiring. I’m super passionate about the impact I think these organizations can have.
Amazon couldn’t be better positioned for the future. We are firing on all cylinders, just as the world needs us to. We have things in the pipeline that will continue to astonish. serve individuals and enterprises, and we’ve pioneered two complete industries and a whole new class of devices. We are leaders in areas as varied as machine learning and logistics, and if an Amazonian’s idea requires yet another new institutional skill, we’re flexible enough and patient enough to learn it.
Keep inventing, and don’t despair when at first the idea looks crazy. Remember to wander. Let curiosity be your compass. It remains Day 1.
– Jeff Bezos

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