Amazon CEO Jeff Bezos is set to move from the post of CEO of his multi-billion-dollar company Amazon and will be taking up the charge of executive chairman in the board. The company shall now function under the supervision of Andy Jessy, the current cloud executive.
Jeff Bezos who turned 57, founded the company as a one-time online book store in 1994 in a garage and has since morphed into a one-stop shopping arena and streaming service.
Bezos who started the digital platform as a small bookstore has taken the company to pandemonium heights. It was under his supervision that the company touched $1 trillion-mark last January and he is finally departing as the company head leaving the current value of the company at $1.6 trillion.
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The company had kept the plans subtle and silent of succession of the business tycoon and was suddenly announced in January. Although many speculations were made about who would be reaching the top office. Jeff Mike the CEO of Amazon’s worldwide consumer business or Jassy were amongst the two who were the most guessed.
Jassy who joined Amazon in 1997 has led Amazon’s Web Services cloud team since its induction.
The company’s web services continue to drive much of Amazon’s profit and are one of the leading sources of revenue. Jassy joined the tech giant Amazon in 1997 and has since been reaching up new heights.
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Speaking to the employees, the former head of the tech giant said that he’s excited to announce that this quarter he’ll move to Executive Chair of the Amazon Board and Andy Jassy will become CEO,” Bezos said in a letter. “In the Exec Chair role, he intends to focus his energies and attention on new products and early initiatives.
He assures that Andy is well known inside the company and has been at Amazon almost as long as he has. He will be an outstanding leader, and he has the former’s full confidence.”
Brian Olsavsky, Amazon’s chief financial officer, , spoke to the media that the executive change was decided in consultation with Amazon’s board of directors.
He confirmed that Bezos will remain very involved and will have his fingerprints on lots of different parts of the company. Olsavsky said confidently that Jassy is a visionary leader and will bring his own skill set and hinted that Amazon expects a lot of continuity with the transition.
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Microsoft CEO Satya Nadella who was an ardent peer of the outgoing CEO congratulated the new chief and called the promotion well deserved.
