Jeff Bezos, who has been Amazon’s CEO since the company was founded exactly 27 years ago on July 5, 1994, has officially resigned. Andy Jassy is now listed as the company’s CEO investor relations website, having previously worked for Amazon Web Services since 2003, when Bezos was listed as Chairman of the Management Team. On July 5, the delivery date was announced earlier a shareholders’ meeting in May.
It’s an important moment for Amazon, which has had the same CEO throughout its existence. Under Bezos, the company survived the dot-com bubble that burst in the late 1990s and became one of the world’s best-known technology companies. Amazon currently controls e-commerce in the U.S. and parts of Europe, and serves as the backbone of much of the modern network thanks to Amazon Web Services.
Bezos’s successor, Andy Jassy, joined the company shortly after graduating from Harvard School of Economics in 1997, and has led AWS since the group was founded in 2003. He was officially appointed CEO of the division in 2016. At the end of 2020, AWS dominated about one-third of the total cloud services market. According to Synergy Research, which is about as much as its closest competitors Microsoft and Google together. Jassy’s route is similar to that of current Microsoft CEO Satya Nadella, who previously ran the company’s Azure cloud business.
While Amazon’s stock price has been a significant success under Bezos’s leadership, its workforce practices, not to mention the former CEO extreme wealth, have been the focus of constant criticism. Warehouse workers and drivers have said the company will achieve its high productivity targets physical tax on employeesand a ProPublica investigation recently claimed that Bezos did not pay federal income tax in 2007 or 2011.
Bezos hands over to Jassy a company whose goals go far beyond electronic books. The e-commerce and cloud services giant is also a company that is ready to make big bets on new business areas. Amazon is a major consumer technology player in Kindle, Echo, Ringand Eero equipment as well as general consumer goods under the Amazon Basics brand. It has a growing presence in the physical retail business following the acquisition of Whole Foods and the establishment of its own Amazon Go and Amazon Fresh stores. In terms of entertainment, it has recently made its biggest purchase of all time acquisition of film and television company MGM for $ 8.45 billion. There’s also Amazon Music and the video game division that Jassy has previously expressed its support in spite of rocky history. Don’t forget these investments health care and fashion.
Amazon’s size and practices have provoked inspections by competition law enforcement agencies around the world. Bezos was one of the CEOs of Big Tech asked to testify before Congress as part of last year’s competitive investigation. Meanwhile, Europe was recently accused of Amazon Misuse of Marketplace information when the European Union announced a second competition inquiry into the company.
As the richest man in the world by Bloomberg, Bezos will not fade into darkness soon. He remains President of Amazon, where he says he is “still involved in important Amazon initiatives” and has also said he intends to spend more time and energy on other initiatives such as the Day One Fund and the Bezos Earth Fund, Washington Post and his Blue Origin space company.
In the near future, Bezos will fly to the edge of space aboard a rocket built by Blue Origin July 20. Accompanying the current former Amazon CEO will be his brother Mark Bezos on board the mission of New Shepard’s first crew. But rival entrepreneur and founder of Virgin Galactic, Richard Branson, is due On a VSS Unity spare aircraft for a test flight on July 11th.