Friday, July 1

Jeff Bezos ceases to be CEO of Amazon and is replaced by Andy Jassy

The founder of Amazon, Jeff Bezos (Albuquerque, USA, 1964), has left the position of CEO of the company on Monday to focus on other personal projects. He is replaced by Andy Jassy, ​​who he trusts and who for years led the company’s lucrative cloud computing division, Amazon Web Services (AWS). Bezos thus ends a long 27-year stint at the helm of Amazon that has led him to be the richest man in the world, according to the Forbes list, and although he leaves the day-to-day management, he will continue to be linked to the company he founded , now as CEO.

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The billionaire already announced earlier this year his intention to withdraw from the front line, and a few months later, during a virtual intervention at the company’s annual shareholders meeting, he announced that the transfer of powers would be on July 5, to coincide with the 27th anniversary of the formal constitution of the company. “When you look at our financial results, what you are actually seeing is the long-term and cumulative results of the invention. Right now, I see Amazon being more inventive than ever, which is the optimal conditions to carry out this transition.” Bezos said in a letter to investors.

In his new role as CEO, Bezos will continue to influence the company’s decision-making, but will have more time to, he said, focus on both the philanthropic and management initiatives of his other companies: aerospace Blue Origin and the The Washington Post newspaper.

First thing: travel to space

One of the first things that the founder of the e-commerce firm has already anticipated that he will do in the coming days will be to travel to space this July 20 – along with his brother Mark and the 82-year-old pilot Wally Funk – on the first trip Blue Origin crew. According to Bezos, this is a dream that he has had since he was a child and that now he will be able to carry out with his “best friend” (in reference to his little brother), a journey that he hopes will change himself as well as his relationship “with him. planet and with humanity “.

The world’s richest man has long been preparing to resign as CEO, and in early May he sold 739,000 Amazon shares, public filings the company filed with the U.S. Securities and Exchange Commission (SEC) show. its acronym in English). The shares sold represent only a small fraction of the total that Bezos continues to control, estimated at 52.4 million shares, representing more than 10% of the ownership of the leading e-commerce company.

He leaves with 177,000 million

According to the Forbes list, Bezos leaves office with a fortune of 177,000 million dollars, practically all of them (more than 170,000 million) made up of Amazon shares. The coronavirus pandemic and the consequent restrictions on mobility and economic activity have increased e-commerce sales around the world, which in turn has skyrocketed Amazon’s profits to triple the figures of just a year ago.

In parallel, the value of the firm’s shares on the stock market has practically doubled, which has further increased the immense fortune of its founder.

Jassy, ​​a man of the house

For his part, Jassy, ​​who joined Amazon in 1997 – just three years after the company was founded – has led AWS since its inception, an outstanding leader in the cloud computing industry ahead of competitors such as Microsoft’s Azure. and Google Cloud. Considered by many in the company the “shadow” of Bezos, the manager had long led all the pools to lead the e-commerce giant when its founder retired, and a continuity line is expected from him in the coming years.

Under Jassy’s leadership, AWS has achieved so much market share that a temporary outage in its services, such as occurred last November, can paralyze hundreds of thousands of businesses and organizations.