Amazon primed: How new CEO Andy Jassy can follow in Jeff Bezos' footsteps

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NBC News 05 July, 2021 - 07:09am 29 views

Why is Jeff Bezos leaving Amazon?

Amazon founder Jeff Bezos has officially stepped down as the company's chief executive, handing that role over to Andy Jassy, in order to focus on "new products and early initiatives". Sky NewsJeff Bezos steps down as Amazon CEO today - but how much power is he really giving up?

Who is the new CEO of Amazon?

The man who will take over Jeff Bezos as Amazon CEO. On Monday, Andy Jassy, who is serving as the chief of Amazon Web Services (AWS) will take over from Jeff Bezos as the new CEO of the one of the world's biggest tech giants. Hindustan TimesWho is Andy Jassy? The man who will take over Jeff Bezos as Amazon CEO

By Yaron Steinbuch

July 4, 2021 | 1:52pm | Updated July 4, 2021 | 2:39pm

When Jeff Bezos steps down Monday as Amazon’s CEO at age 57, he will carry with him an estimated $197 billion — a staggering fortune that is 739,489 times the median net worth of an American at age 65.

Amazon announced in February that Bezos would step down this year and assume the mantle of executive chairman of the e-commerce giant’s board.

He is expected to dedicate more time toward initiatives like the Bezos Earth Fund, his Blue Origin spaceship company, The Washington Post and the Amazon Day 1 Fund, CNBC reported.

Bezos received an $81,840 salary and $1.6 million in other compensation from the company last year, according to Business Insider.

His net worth exploded by $75 billion during 2020 as the COVID-19 pandemic drove sales into the stratosphere on his company’s online marketplace, sending shares skyward.  

Bezos, who makes more money every second than the average American worker makes in a week, has drawn criticism for getting richer while thousands of Amazon workers live on food stamps and toil in poor conditions.

He will be replaced by Andy Jassy, current CEO of Amazon Web Services, the company’s cloud platform.

Read full article at NBC News

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