Who is the new CEO of Amazon?
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
Is Jeff Bezos retiring?
Jeff Bezos will officially step down as the CEO of Amazon on Monday, July 5. Now, 57, the online shopping giant's CEO will be retiring as the world's richest person with a net worth of over $200 billion, as reported by Bloomberg's Billionaire's Index. Republic WorldJeff Bezos to step down as Amazon CEO on July 5 at 57 as world's richest person
Is Jeff Bezos leaving Amazon?
Amazon CEO Jeff Bezos is leaving the company as of July 5 to pursue 'new products and early initiatives.' He will be succeeded by cloud computing chief Andy Jassy. cnbc.comAmazon CEO Jeff Bezos preps to leave his role by setting a new tone
05 July, 2021 - 03:06am
05 July, 2021 - 03:06am
Andy Jassy starts his stint as Amazon CEO on July 5 after Jeff Bezos announced that he is stepping down as the company’s CEO and will assume the role of Executive Chairman. The head of Amazon’s cloud services, Andy Jassy, who will take over as the company’s new CEO, is a devotee of Jeff Bezos and now his successor. Mr. Jassy is known for his perseverance and hard work all through the years.
Andrew R. Jassy, born on January 13th, 1968, New York, graduated with honors from Harvard College, where he was the advertising manager of the Harvard Crimson, before getting an MBA degree from Harvard Business School. Post his MBA graduation, he joined Amazon in 1997 and served as the first technical adviser to Bezos early in his career, founded AWS in 2006 and turned it into the world’s biggest cloud service provider. Jassy is now the CEO of Amazon Web Services in the third quarter of 2021.
Jassy was named CEO of AWS in a reorganization that gave longtime logistics and retail executive Jeff Wilke oversight of Amazon’s retail unit. When Wilke announced his retirement last year, Jassy became Bezos’s obvious successor. Whether by nature or that experience as Bezos’s “shadow,” Jassy is uncannily similar to his boss. He has instituted Amazon’s preference for rigorous data-driven decision-making throughout AWS and has been known to intervene in meetings when executives go on tangents unrelated to pleasing the customer.
Worked with Amazon for more than 20 years, Jassy is certainly one of the very early day employees and for many years has been one of Bezos’s most trusted people in the company. Bezos always gave his unfiltered support to Jassy and the latter achieved remarkable results turning the Amazon Web Services division into one of the most successful business lines.
One of the main reasons to choose Andy, apart from his loyalty and value to the company is because he has the vision to drive Amazon forward and is the person who knows best the AWS ecosystem of Cloud computing products which drives the entire company and many of its connected businesses. Appointing an insider as CEO, and Jeff Bezos transitioning in the Executive Chairman role also assures a smooth operation and no turbulence for the company investors and shareholders.
Jassy literally followed the footsteps of Bezos for all the years every day, sitting with him in meetings and serving as his ears in rooms where Bezos’s presence could throw discussions off track. Bezos in fact saved Jassy from being fired from Amazon in 1997, a few years after Jassy had joined Amazon from Harvard Business School. Jassy was nearly fired during layoffs in Amazon’s marketing department. Bezos saved him, calling him “one of our most high potential people”, according to Amazon Unbound, a book by Bloomberg journalist Brad Stone.
Now that Jassy has been a true Amazon loyalist and has worked closely with Bezos for a long time, the latter is currently preparing to fly to space. Handing over the reins to Jassy, Bezos will be flying to space on the first crewed flight of the New Shepard, the rocket ship made by his space company, Blue Origin. The flight is scheduled for July 20th, just 15 days after he is set to resign as CEO of Amazon. Parallel to that, Bezos Amazon Studios is also collaborating with Dwayne Johnson’s Seven Bucks Productions “to deliver fun to families around the world”. This means the former CEO is all set to focus more on his private space exploration firm, philanthropy, and other endeavors.
05 July, 2021 - 02:24am
04 July, 2021 - 11:05am
Amazon had an incredibly profitable year in 2020 as people increasingly turned to online retailers during the global pandemic. As a result, Bezos, the founder and CEO of the company, saw his personal wealth skyrocket, growing by more than $75 billion (USD).
The world’s richest person now intends to retire on a special day. On July 5, 1994, Bezos launched Amazon as an online bookstore and he will retire on the 27th anniversary of this date.
In terms of wealth, Bezos will retire with twice as much as money the entire British royal family, who have roughly $88 billion as of 2017. Furthermore, Insider has reported that his fortune is 739,489 times the median net worth of an American at the age of 65. Additionally, the billionaire will have more money than some GDPs of entire countries as he steps down from Amazon.
Amazon will continue once Bezos takes his leave. Andy Jassy, the current CEO of Amazon Web Services, will take over as the CEO of the entire company. While this will undoubtedly be a profitable endeavour, the company still faces challenges.
Most notably, many employees at Amazon have reportedly had to live on food stamps and work in poor conditions while the company as a whole profits. This has led to calls for radical change within the retail company.