Andy Jassy, the chief of Amazon’s cloud computing division, will take the former position of Jeff Bezos when he becomes the executive chairman of Amazon.
It is a step downward for 2 steps forward. Jeff Bezos gave up his C.E.O position to Andy Jassy, while he took the role of an executive chairman of Amazon.
In 1994, Bezos founded an online bookseller named Amazon with so many doubts. Bezos’ answer was to build up a legacy with Amazon and turned that brand into a successful name. Amazon after 27 years is no longer just an online bookseller, but a store of “everything” and a corporation that worth $1.7 trillion. Throughout the years, Bezos has uplifted Amazon into a logistic giant, and expanded their impact into cloud computing, streaming entertainment and artificial intelligence-powered devices.
But his biggest achievement was definitely to acclaim himself as the richest man in the world.
However, Bezos is about to give up his power as the top man of Seattle-based company. He planed to shift himself from a C.E.O into an executive chairman. Blockbuster financial results have set back the company, and Bezos considered to give power to a younger lad who might have a plan to return Amazon to its peak.
Jassy, 53 year-old, the chief executive of Amazon’s cloud computing division, will be promoted to the vacant position of Bezos. The change will officially happen this July. Bezos confessed that he was excited about this transition.
The changing will open a new era of Amazon. Even though Bezos will step down as a C.E.O, his legacy and influence will always be memorable. Alongside Apple’s Steve Jobs and Microsoft’s Bill Gates, Bezos is an influential figure in the high-tech industry who created a revolution for the entire industry. In recent years, he was prepared for a step back as he handed more power to Classy.
He also wants to step down so that Bezos can spend more times for his personal projects. In 2013, he bought Washington Post and has spent $1 billion investment on Blue Origin.
Last year was the rare period of time in the last few years that Bezos really had time for daily operation of Amazon. He was the one who stabilized an Amazon corporation that was shaking during the COVID-19 pandemic. His phone calls saved the company from supply chain challenges and e-commerce demand. Amazon is now stable in terms of serving e-commerce demand and Prime’s fast shipping program.
It is time for Bezos to think about stepping down, seriously. Nonetheless, he will definitely go nowhere. It is simply just a power transition that should happen sooner or later.
Investment analysts, Brian Olsavsky, Amazon’s finance chief said that this transition is more a restructuring of who is doing what. “Jeff is really not going anywhere,” Mr. Olsavsky said with New York Times.
In general, Bezos is still the biggest shareholder of Amazon and he will stay on the board of directors. Olsavsky said that this is all about personal option of Bezos as he wants a step down and focuses on his personal development. What Bezos has done alike to several other founders of large digital corporations. In 2019, founders of Google also stepped back and handed the power to the successor, Sundar Pichai.
Nonetheless, Amazon will face variety of challenges when Bezos leaves the company. Several nations now wants to charge Amazon an extra fees for antitrust, including nations from European Union. This week, the corporation has paid $2 millions for Federal Trade Commission as the tips for their delivery drivers.
Also, Amazon is accused for overloading the work load for employees and force them to work for extra hours. Walmart+ and Jet.com are another challenges for Amazon as they earlier have claimed to create a harsh competition for Amazon within the logistic industry.
After all, Bezos is quite bold with his decision, stepping back and giving power to younger lad.
And so many people agree that Jassy would be a good choice for C.E.O role of Amazon if Bezos leaves the company.
But I did think if Jeff was ready, Andy would be the one.
Matt McIlwain, a managing director at Madrona Venture Group and investor for Amazon, said.
