Jeff Bezos will step down from Amazon as CEO this year

According to Reuters, Jeff Bezos, founder, CEO, and chairman of the Amazon.com online store, will step down from its CEO this year.

Jeff Bezos will step down from Amazon as CEO this year

Bezos is scheduled to move aside in the fall of the third quarter, after which Andy Jassy will take his place as CEO. Jassy is currently the head of Amazon’s cloud services unit.

– I have never had so much energy, and this is not about me retiring, Bezos wrote in a letter to Amazon employees.

Amazon reported more than $ 7.2 billion in operating profit in the fourth quarter of last year, including the Christmas season. Compared to the fourth quarter of 2019, the company more than doubled its earnings.

The company’s revenue rose 44 percent to $ 125.6 billion from last year in the same quarter.

According to AFP news agency, Bezos said local time on Tuesday that he plans to focus his attention on charity work and space and media-related projects after leaving office.

The billionaire will not leave the company entirely but will take over as chairman of the future board.

According to Bezos, he intends to continue to be involved in its essential projects in his new role. In the future, however, he will have better time and energy to focus on two funds, the Day 1 Fund and the Bezos Earth Fund, the U.S. newspaper Washington Post, and his other passions.

Bezos: Innovations have fueled Amazon’s development

Bezos emphasizes the importance of various inventions for the company’s development and lists, among other things, the Kindle device for reading e-books, virtual assistant Alexa, and says that the company has been a pioneer in the field of customer reviews.

“Today, we employ 1.3 million talented, dedicated people, serve hundreds of millions of customers and associations, and are widely recognized as one of the most successful companies in the world,” Bezos said in his letter.

According to news agency AFP, Bezos’ successor, Jassy, ​​joined the house originally as marketing director in 1997 and currently heads Amazon’s cloud services unit, Amazon Web Services.

According to Amazon’s website, the unit provides cloud services to businesses. According to the site, the company began operations in 2006. According to AFP, Amazon Web Services has been one of Amazon’s most profitable units.

Bezos has net assets of approximately $ 185.7 billion

Jeff Bezos, 57, founded Amazon in 1994 and has pioneered e-commerce. Bezos’s net worth is currently about $ 185.7 billion, according to financial magazine Forbes (January 2021).

Bezos’s move away from the CEO position follows the trend of other technology giants.

Google founders Larry Page and Sergey Brin resigned from management positions in parent company Alphabet in 2019.

Microsoft founder Bill Gates left the position of CEO back in 2000 but then worked for the company on a day-to-day basis until 2008. Gates chaired the company until 2014. Last year, he ultimately left his seat on the board because he wanted to focus entirely on his charitable work.

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