Jeff Bezos, the founder of Amazon, announced on Tuesday, February 2 that he is leaving the directorate general of the e-commerce giant. But, he remains Chairman of the Board of Directors of the box and will continue to make decisions regarding the international trading platform.
Amazon CEO Jeff Bezos announced on Tuesday that he will step down from the company’s CEO in the third quarter of 2021. However, he will retain his title as Chairman of the Board of Directors to remain “committed to Amazon’s major decisions”.
“Amazon is what it is because of inventions,” said Jeff Bezos in a letter to his employees. “If you do it right, a few years after a surprising invention, new things become normal. People yawn. This is the biggest compliment an inventor can receive,” he said before adding, “Amazon has never been more inventive, so it’s an ideal time for this transition.”
The American billionaire wants to find “time and energy” to devote himself to his philanthropic work through the Day One Fund and the Earth Fund, his aerospace company Blue Origin and the Washington Post newspaper he owns.
Andy Jassy, who joined Amazon when it first started in 1997 as Director of Marketing, will now be in charge. He is the founder of Amazon Web Services, established in 2003. The cloud industry, less known to the general public, has become one of the group’s most profitable, which dominates this global market, ahead of Microsoft and Google.
The coronavirus pandemic has exploded online commerce and cloud (remote computing) needs. Amazon saw its net profit double in the fourth quarter of 2020 to $7.2 billion, thanks to the holiday season and containment measures in many countries.
Amazon is currently worth more than $1.6 trillion on the stock market.
