Bezos to Step Down from Amazon CEO Position

Bezos to Step Down from Amazon CEO Position

Foto: Amazon

Amazon founder Jeff Bezos will step down from his role as CEO later this year. He will takie a position as executive chairman after close to 30 years in charge.

Amazon Web Services chief Andy Jassy to replace Bezos in a switch scheduled for Q3, marking one of the biggest shake-ups in the main company’s history. In a notice to Amazon employees, Bezos said he will stay engaged in important Amazon initiatives following the transition, which he explained would leave him with the time and energy to focus on other products and initiatives, including the Day 1 fund for non-profit organisations, climate action initiative Bezos Earth Fund and space company Blue Origin.

“ Amazon is what it is because of invention. We do crazy things together and then make them normal. Amazon couldn’t be better positioned for the future. We are firing on all cylinders, just as the world needs us to”, Bezos said, adding the company was at the “most inventive phase in its history, making it an optimal time for this transition”. He backed Jassy to be an oustanding leader. Bezos founded Amazon in 1994 and served as CEO for almost 27 years.

The company unveiled the news in its Q4 2020 earnings statement. It had net income of $7.2 billion, up 118% year-on-year, and revenue of $125.6 billion, 44% higher. For the full year 2020, Amazon had net income of $21.3 billion, or $14.09 per diluted share, 54% higher compared with the previous year. Net sales increased 38% to $386.1 billion.

More from category

HT Announced Winners of Digital Play(Thing) Creative Competition

HT Announced Winners of Digital Play(Thing) Creative Competition

17 Apr 2021 comment

Hrvatski Telekom and the Institute for Youth Development and Innovation (IRIM) have announced the winners of the creative competition 'Digital Play(thing)' as part of the Generation NOW donation competition.

Romania to Prevent Huawei from Buliding 5G Networks

Romania to Prevent Huawei from Buliding 5G Networks

17 Apr 2021 comment

Romanian government decided to prevent Huawei and other Chinese vendors partnering with the country on 5G networks.

Sony Unveils Its New Flagship Smartphones

Sony Unveils Its New Flagship Smartphones

16 Apr 2021 comment

Sony unveiled a trio of Xperia smartphones, including two in its flagship range promoted on the inclusion of variable telephoto lens technology, along with a 5G handset targeted at bringing the technology to the mass market.