Home Technology Jeff Bezos to step down as Amazon CEO, will still be obscenely richer than you

Jeff Bezos to step down as Amazon CEO, will still be obscenely richer than you

2 min read

The sign of any successful company is not how it is able to disrupt the market, but also how it is able to transition from one leader to another without falling apart. We’ve seen it far too often where a company’s visionary founder puts the brand on the map, only to see the business lose the plot in the end.

Amazon will be having that opportunity to prove just how massive it can remain as CEO Jeff Bezos has announced that he will be stepping away from the position he has occupied since starting the company in 1994, serving as executive chairman of the board. Amazon Web Services CEO Andy Jassy will be replacing him as CEO of the Amazon group in the third quarter of the year.

Bezos announced the news at the recent quarterly earnings call, where Amazon also announced that it has made obscene amounts of money and will be focusing on efforts to help fight global warming through the $10 billion Bezos Earth Fund. While simultaneously creating greenhouse gases all over again in the great space race through the company’s Blue Origins venture, as it looks to catch up with SpaceX and Virgin Galactic in commercialising travel to the stars.

As for the future of Amazon, it probably couldn’t be in a better pair of hands than with Jassy who has headed up the most profitable division of the company, Amazon’s cloud business, since 2003. Given Amazon’s continued focus on tech, it makes sense to bring in a man who understands it very well and can help Amazon grow even further in this field. It will be interesting to see just how much change he does make or if he simply just keeps the Amazon ship going.

Amazon might be one of the world’s fastest-growing companies which competes in just about every market imaginable, but it still has significant challenges, especially in how it treats staff. Jassy will likely be looking to repair Amazon’s image while also keeping the company’s meteoric rise on an upward trend as it faces stiff competition from the likes of Microsoft and Google in other business spaces.

Last Updated: February 4, 2021

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