The Amazon Group announced on Tuesday that its founder, multi-billionaire Jeffrey Preston Bezos, would step down as chief executive. He will sell this title in the third quarter of 2021.
The new CEO of the e-commerce giant will be Andy Jassy, currently the group’s head of web services based in Seattle. Jassy joined Amazon when the company was still in its take-off phase, in 1997, as director of marketing. He founded Amazon Web Services there in 2003. The cloud branch, less known to the general public, has become one of the most profitable of the group that dominates this global market, ahead of Microsoft and Google.
Read also about Jeff Bezos:
Neck and neck for the title of richest man in the world with Tesla boss Elon Musk, Jeff Bezos has made an online bookstore a powerful technology company, essential on the internet. He will keep his title of chairman of the company’s board of directors.
In a letter to employees, the founder thus affirms that he will remain “engaged” in the major decisions of Amazon. He also indicates that he will devote himself to his philanthropic works, the Day One Fund and the Earth Fund, his aerospace company Blue Origin and the daily Washington post which he owns.
In the group’s quarterly earnings release, Bezos said “Amazon is (the company) it is because of inventions.” “If you do it right, a few years after a surprising invention, new things become normal. People are yawning. It is the greatest compliment an inventor can receive, ”he continued. “Amazon has never been so inventive, so now is a great time for this transition.”
The rise of e-commerce
The announcement comes as the American e-commerce company emerges greatly strengthened from a year of pandemic that has exploded online commerce and cloud (remote computing) needs. Its net profit doubled in the fourth quarter of 2020, to $ 7.2 billion, following the surge in e-commerce and teleworking linked to the Covid-19 pandemic. It is now worth more than 1,600 billion dollars on the stock market.