What happens at the top of Amazon

3 February 20213 years ago babelfish

The founder of the e-commerce giant Jeff Bezos will pass the baton as CEO of Amazon to Andy Jassy. Bezos will become executive president. What changes and why

After the founders of Google, Oracle and Microsoft all resigned from the top positions of the companies they created, Jeff Bezos also leaves the helm of his Amazon.

In fact, one of the last founders leaves one of the largest technology companies who still remained CEO.

The figure most intrinsically linked to Amazon, its founder and CEO, Jeff Bezos, took advantage of the presentation of record annual results, to anticipate that he will leave the position in the summer.

The richest man in the world according to Forbes will then become the company's executive president and hand over the helm to Andy Jassy, who currently runs the company's most profitable business segment, the Amazon Web Services (AWS) cloud computing platform .

Bezos is moving away from Amazon at a time when its market value is hovering around $ 1.7 trillion, making it one of the most valuable companies in the world.

All the details.

BEZOS'S STEP BACK FROM THE AMAZON GUIDE

Jeff Bezos takes a step back and hands over control of his Amazon to Andy Sassy starting in the third quarter. The surprise announcement coincides with the record results of the online sales giant which, driven by the pandemic, closes the last three months of the year with revenues up 44% to 125.5 billion dollars and a net profit of 7, 2 billion.

REMAINS IN THE ROLE OF EXECUTIVE PRESIDENT

However, Bezos will not permanently leave the company he founded nearly 30 years ago. In fact, in the third quarter of 2021 he will become executive president. “In my role as executive president, I intend to focus my energies and attention on new products and initiatives,” says Bezos announcing his decision, which brings to mind Bill Gates' step back from Microsoft.

“This is an optimal time for transition,” he adds praising his successor. “Andy is known within the company. He will be a fantastic leader, and he has my full confidence ”.

JASSY NEW CEO FROM THE THIRD QUARTER OF 2021

Andy Jassy is in fact a veteran of the giant, currently at the helm of Amazon Web Services. Jassy will officially take over the position in the third quarter of this year, the company said in its announcement.

THE ROLE OF AWS FOR THE AMAZON GROUP

And the Aws cloud division plays a fundamental role in the group founded by Bezos.

Prior to the pandemic, AWS grew faster than Amazon's retail business, although the rise in online shopping due to Covid-19 has given a strong boost to sales of Amazon-branded products. Although its growth slowed as it got bigger, it is still going strong. This quarter, AWS achieved $ 12.7 billion in sales, about 10% of Amazon's total sales over the period.

WASHINGTON POST AND BLUE ORIGIN IN THE FUTURE OF BEZOS

As for Bezos, in addition to serving as Amazon's executive chairman, he will spend most of his time focusing on things other than the Seattle group's day-to-day operations. Like his space company Blue Origin , the charitable funds he founded, and the Washington Post newspaper, according to an email sent to Amazon employees. "Amazon could not be in a better position for the future," concluded Bezos.

This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/che-cosa-succede-ai-vertici-di-amazon/ on Wed, 03 Feb 2021 11:02:24 +0000.