Why Did Jeff Bezos Step Down As Amazon CEO?

jeff bezos

On Feb 2nd, 2021, Jeff Bezos, 57, founder and CEO of a trillion-dollar company Amazon revealed that he will step down from the position this mid-year passing the responsibility to Andy Jassy.

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Amazon was launched in 1995, Amazon was a pioneer of quick, free delivery that prevailed upon an abundance of customers who utilized the site to purchase diapers, TVs and pretty much everything else. Under Bezos, Amazon likewise dispatched the first e-reader that acquired mass acknowledgement.

Jeff Bezos’s Net Worth

According to Forbes and Bloomberg’s Billionaires Index, he is the world’s richest person, with a net worth of more than $200 billion as of June 2021.

amazon jeff bezos
Photo by Wicked Monday on Unsplash

Bezos, who lately had just “moved away from a large part of the everyday business,” will assume the job of leader executive once Jassy advances into the CEO job by summer.

Bezos educated his workers about his choice to venture down as the CEO through an email. “At present I see Amazon at its most innovative stage ever, making it an ideal time for this change,” Jeff Bezos told workers in an articulation thinking about his 27 years in charge. 

amazon jeff bezos stepdown email
https://www.aboutamazon.com/news/company-news/email-from-jeff-bezos-to-employees

Jeff Bezos wrote that “Being the CEO of a renowned company- Amazon, it is a profound duty and it’s time consuming. I’ve never had more energy, and this isn’t tied in with resigning or retiring. As an Exec Chair, I will remain occupied with significant Amazon activities yet additionally have more opportunities and energy. I will focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other different interests.”

Who is Andy Jassy?

Jassy, a 52-year-old enthusiast joined Amazon in 1997 after Harvard Business School. He is the current head of Amazon’s gigantically beneficial distributed computing division and has been at Amazon for much of its existence.

Andy Jassy’s Net Worth

Andrew R Jassy’s projected net worth as of May 21, 2021 is at least $403 million USD. Mr. Jassy holds over 1,250 units of Amazon.com stock valued over $288,459,196 and has sold AMZN stock worth over $113,699,575 during the previous 15 years.

who is andy jassy

Jassy is one of Bezos’ and Amazon’s most believed lieutenants and he was generally seen as Jeff Bezos’ replacement, given that he was delegated the CEO position. He has originated and composed the AWS (Amazon Web Service) unique marketable strategy and has run the division since 2006.

andy jassy aws

Since then, AWS has developed into a cloud stage utilized by millions that rule inheritance players like Oracle and Microsoft. Jeff Bezos indicated in the mail to the staff that Jassy has “full certainty and he will be an extraordinary pioneer.” “Andy is a notable personality within the organization and has been at Amazon nearly as long as I have,” he said.

Jeff Bezos’s stepping down as Amazon’s CEO has come as quite a surprise for us. Nevertheless, we can expect great things from his successor while we can be certain that Amazon will continue to rule the e-commerce scenario for generations to come.

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Purva Desai
Purva is a Data Science and Machine Learning whizz. She loves everything Science & Tech, and cares deeply about causes like health and education. Purva is a technical writer and wants to help businesses convert readers into customers.