Jeff Bezos found the company Amazon on 5th July, 1994 and has been serving the company as its rightful CEO ever since. After 27 years of serving the company and making it reach unattainable heights, Jeff Bezos has decided to step down from his position and the company’s top cloud executive, Andy Jassy officially takes over as Amazon CEO.
Amazon’s growth under Jeff Bezos before Andy Jassy takes over as Amazon CEO
Amazon has flourished and reached extreme heights under their founder Jeff Bezos, prior to Andy Jassy’s official take over as Amazon CEO. After founding the company in 1994, Bezos has transformed Amazon from a one-time online store to one of the most vital retailing company’s in the whole world. In the month of January 2020, Amazon managed to cross a $1 trillion market cap under the mentorship of its founder Jeff Bezos. Currently Amazon successfully influences the e-commerce market in maximum parts of US and Europe. As of now, Amazon’s net worth is estimated to be more than $1.6 trillion.
More About the new CEO of Amazon, Andy Jassy
Andy Jassy officially takes over as Amazon CEO from Jeff Bezos. Jassy joined the company in the year 1997, right after graduating from Harvard Business School. He has led the Amazon Web Services ever since it was established in 2003. Andy was officially named as the CEO of the AWB division in the year 2016. By the end of the year 2020, under Andy Jassy’s leadership, AWS was estimated to control about one third of the whole cloud computing market. Under Andy Jassy, Amazon Web Services reported a revenue growth of 28% in the fourth quarter. In the month of October 2020, the AWS made up around 52% of Amazon’s total income.
Before Andy Jassy officially takes over as Amazon CEO, Jeff Bezos addressed the take cover to his employees saying, “I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO. In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives. Andy is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader, and he has my full confidence.”
Amazon’s Diversity in Various Fields of Retail and Market
Andy Jassy officially takes over as Amazon CEO, the multi diverse company which has provided its workers as well as the consumers with billions of opportunities. Here are the fields that Amazon has successfully managed to conquer in terms of business.
|Amazon Tech||Physical Markets||Entertainment|
|Kindle||Amazon Go||Amazon Music|
|Echo||Amazon Fresh stores||Amazon Video Games|
In the case of entertainment, Amazon has made its biggest investment till date in this very category with the purchase of film and TV company MGM for $8.45 billion.
Backslash faced by Amazon
Even though Amazon has conquered and made a trademark in various fields of marketing and retail, it has managed to score some negative points to it too before Andy Jassy officially takes over as Amazon CEO. This may or may not be due to the credit of its previous CEO and founder Jeff Bezos. His extreme possession of wealth and net worth has already been a case of controversy. Below are some of the cases which further fuelled the sustaining criticism and backslash against the company:
- Physical toll on warehouse workers, drivers and employees due to the company’s extreme targets of productivity.
- Jeff Bezos had to testify in front of the Congress as a part of its antitrust investigation in the year 2020.
- Second antitrust investigation against the company declared by the European Union, as Amazon was accused of misuse of marketplace data in the Europe.
- A member of the House Judiciary Committee, Rep. Ken Buck, R Colo said that he has some questions after Andy Jassy officially takes over as Amazon CEO which may have hinted towards some obstacles.
Jeff Bezos’ plans for the future after he steps down and Andy Jassy officially takes over as Amazon CEO
Even though Jeff Bezos has stepped down from his position and Andy Jassy officially takes over as Amazon CEO, Bezos will still be very much engaged in the company’s affairs and will be serving his role as Amazon’s Executive Chair. He has claimed to stay involved in the company’s decisions and initiatives but will however invest more of his time and energy into his other interests such as the Day One Fund, Bezos Earth Fund foundations, the Washington Post and his Blue Origin spaceship company.
His future looks quite promising as he is set to travel to space on the 20th of July on a rocket manufactured by the Blue origin company. Regarding his mission of travelling to space, he said in an instagram post, “Ever since I was five years old, I’ve dreamed of travelling to space.”
Addressing the change in his path, he said, “As much as I still tap dance into the office, I’m excited about this transition, Millions of customers depend on us for our services, and more than a million employees depend on us for their livelihoods. Being the CEO of Amazon is a deep responsibility, and it’s consuming. When you have a responsibility like that, it’s hard to put attention on anything else.”
As Jeff Bezos steps down from his role to focus on his other interests and Andy Jassy officially takes over as Amazon CEO, rival CEO’s; Satya Nadella of Microsoft and Sundar Pichai of Alphabet, went on twitter in order to offer their best wishes to Jeff Bezos on his new adventures and congratulated Andy Jassy on his new role as the CEO of Amazon.