Jeff Bezos to Step Down as Amazon CEO, Andy Jassy to Take Over

Bezos will take over as the executive chairman in the third quarter of this year. However, the head of Amazon’s cloud division Amazon Web Services (AWS) Andy Jassy will take over as the new CEO of Amazon.

Jeff Bezos to Step Down as Amazon CEO, Andy Jassy to Take Over
Jeff Bezos to Step Down as Amazon CEO, Andy Jassy to Take Over

Amazon CEO and founder Jeff Bezos announced on Tuesday that he would step down as the company's CEO. Bezos will take over as the executive chairman in the third quarter of this year. However, the head of Amazon’s cloud division Amazon Web Services (AWS) Andy Jassy will take over as the new CEO of Amazon. Bezos informed his employees about his decision to step down as the CEO through an email.

Here is the complete letter Bezos wrote to his 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,” Bezos said in a letter to his employees.

Bezos said that he intends to focus on new products and initiatives in his letter. He is the biggest shareholder in Amazon, so despite stepping down as the CEO, he will still have a lot of control over the company. In September 2020, Jeff Bezos topped the Forbes' list of richest Americans for the third year in a row. His net worth now crossed $202 billion after an increase of $5.22 billion in a single day. However this year, Tesla supremo Elon Musk toppled Bezos to become the world's richest person. Elon Musk's net worth now surpassed $195 billion, and Bezos stood at 185 billion.

Jeff Bezos said Amazon was just a thought, and it had no name. The inquiry I was posed to most habitually around then was, "What's the web?" Blessedly, I haven't needed to clarify that in a drawn-out period of time. 

Today, we utilize 1.3 million capable, committed individuals, serve a huge number of clients and organizations, and are generally perceived as quite possibly the best organizations on the planet. 

As Amazon turned out to be enormous, we chose to utilize our scale and extension to lead on significant social issues. Two high-sway models: our $15 the lowest pay permitted by law and the Climate Pledge. In the two cases, we marked out administrative roles and afterward requested that others join us. In the two cases, it's working. Other enormous organizations are coming our direction. I trust you're glad for that also. 

I discover my work significant and fun. I will work with the sharpest, generally capable, most bright partners. At the point when times have been acceptable, you've been modest. At the point when difficulties have been out of control, you've been solid and steady, and we've made each other giggle. It is a delight to chip away at this group. 

However much I actually tap dance into the workplace, I'm amped up for this progress. A large number of clients rely upon us for our administrations, and in excess of 1,000,000 workers rely upon us for their jobs. Being the CEO of Amazon is a profound duty, and it's burning-through. At the point when you have a duty like that, it's difficult to put consideration on whatever else. As Exec Chair I will remain occupied with significant Amazon activities yet additionally have the opportunity and energy I need to zero in on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my different interests. I've never had more energy, and this isn't tied in with resigning. I'm too enthusiastic about the effect I figure these associations can have. 

Amazon couldn't be better situated for what's to come. We are terminating on all chambers, similarly as the world requires us to. We have things in the pipeline that will keep on amazing. We serve people and undertakings, and we've spearheaded two complete businesses and a totally different class of gadgets. We are pioneers in territories as differed as AI and coordinations, and if an Amazonian's thought requires one more new institutional expertise, we're adequately adaptable and understanding enough to learn it.

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