One of the richest billionaires on earth Jeff Bezos steps down as Amazon CEO announcing to leave his post later this year as amazon CEO, turning the mantle over to the company’s chief executive officer for web services, Andy Jassy.
Bezos will then be in control of the executive chairman of Amazon’s board, he founded Amazon in 1994 and is currently and has since transformed the one-time online bookstore into a mega-retailer with the global reach of different categories from gadgets to groceries to streaming.
Amazon has been a top company surpassing the $1 trillion total market capital under the world billionaire Bezos leadership in primeval years and it is currently worth more than $1.59 trillion, even the succession plan had been kept quiet by the company but rumors are being circulated that the CEO of Amazon’s worldwide consumer business Jeff Wilke could also be Bezos eventual successor.
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The shares of Amazon were up about 0.9% in extended trading recently on the back of the earnings report being published by amazon worldwide consumer CEO Jeff Wilke and during the year the company’s stock has gained about 3.9% so far but was increasingly up by 69.9% in the past year (2020).
The chief financial officer of amazon Brian Olsavsky spoke to the reporters after entertaining their media call, he said Bezos will remain very involved and have his fingerprints on lots of different parts of the company. Olsavsky said Jassy is a visionary leader who will bring his own skillset but that Amazon expects a lot of continuity with the current transformation.
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Bezos said he will stay be engaged in important Amazon projects but will have more time to focus on the Bezos earth fund, his blue origin spaceship company, the Washington Post, and the amazon day 1 fund. He also talked oh how millions of customers depend on their services, and more than a million employees depend on amazon for their livelihoods.
