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Amazon, a leading Internet sales company, reported that its founder and current CEO, Jeff Bezos, will take over as CEO within the company. The announcement coincided with the company’s quarterly results, which revealed sales in excess of $ 100 billion.
Jeff Bezos, 57, has been at the helm of Amazon since its founding in 1994. The transition will take place from the third quarter of this 2021.
In a note to employees posted on the Amazon website, Bezos made it clear that the change is not about retirement, but about a movement that will allow him to have more time to promote other projects.
“As CEO, I will continue to participate in important Amazon initiatives, but I will also have the time and energy I need to focus on Bezos Earth Fund, his Blue Origin spacecraft company, as well as ‘The Washington Post’ and Day One. Fund “, assured the businessman.
Bezos, who was intrigued by computer science from his youth, earned a degree in electrical and computer engineering from Princeton University and later worked at various Wall Street companies.
After leaving his job at ‘DE Shaw’ with the idea of starting an online retail business, Bezos and his then-wife MacKenzie settled in Seattle but had no idea what to sell.
In July 1995, Amazon emerged as an online bookstore. The trade in these types of products is due to its proximity to the city of Roseburg, Oregon, a large book distributor. Later, the company pioneered free and fast shipping for thousands of items that consumers purchased.
Andy Jassy, promoter of the cloud company, will be the new CEO of Amazon
Similarly, it was learned that Andy Jassy, current director of cloud computing, will become the next CEO of the company as of the third quarter of this year.
Jassy joined Amazon in 1997. He has an MBA (Master of Business Administration) from Harvard Business School and among his achievements is having founded Amazon Web Services, AWS, and having turned Amazon into a platform used by millions of users.
“Jassy’s experience running AWS shows how important those services are to Amazon’s business strategy. It will be interesting to see how that affects their strategy and balances that priority with a growing ad business and the commerce giant,” said Tom. Johnson, director of transformation at marketing agency Mindshare Worldwide, told Reuters news agency.
Amazon records record sales in the last quarter of 2020
In the midst of the news about Jeff Bezos’ change of position, Amazon reported that during the fourth quarter of 2020 it registered sales in the order of 125,555 million dollars, 44% more than the sales registered in the same period of the previous year.
“When you look at our financial results, what you are really seeing is the long-term cumulative results of the invention. Right now I see Amazon at its most inventive, which makes it an optimal time for this transition,” says the company. .
The report highlights that its net profit reached 7,222 million dollars, 120% more than in the last three months of 2019.
With the onset of the pandemic in the United States, consumers have turned to Amazon for the delivery of basic goods and medical supplies for the home. As physical stores closed, the company recruited more than 400,000 workers and posted record profits.
However, the US Federal Trade Commission (FTC) fined the online sales company $ 61.7 million for allegedly expanding its business “under the deception of its workers. “.
In 2015, Amazon launched Flex, as a face-to-face messaging service to compete with the services of FedEx and UPS. To recruit its staff, the company promised to pay them a minimum of $ 18-25 an hour. However, according to the FTC, the company changed salary conditions at the end of 2016, when it went live.
With AP, Reuters and EFE
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source https://pledgetimes.com/jeff-bezos-completes-his-mission-as-ceo-of-amazon-to-promote-new-projects-of-the-company/
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