Amazon announced Tuesday that Amazon Web Services (AWS) CEO Andy Jassy will replace Jeff Bezos as CEO during the third quarter of this year. Bezos will move to the executive chair of Amazon’s board.
Bezos founded Amazon in 1994 and has since transformed it from an online bookstore into a mega online store that sells and offers all kinds of products worldwide. In January last year, Amazon exceeded the $ 1 trillion market cap under Bezos ’leadership. It is now worth more than $ 1.6 trillion.
Jassy joined Amazon in 1997 and has led Amazon’s cloud web services team since its inception. AWS continues to reap much of Amazon’s profits
“I am pleased to announce that this third quarter I will become the CEO of Amazon’s board and that Andy Jassy will become CEO,” Bezos said in a letter to employees. “In the role of the Exec Chair, I intend to focus my energies and attention on new products and early initiatives. Andy is well known within the company and has been at Amazon for almost as long as I. He has my full confidence “.
Bezos said he will remain committed to major Amazon projects, but will also have more time to focus on the Bezos Earth Fund, its spacecraft company Blue Origin, The Washington Post, and the Amazon Day 1 Fund.
Amazonian companions:
I am excited to announce that this third quarter I will be passing on the executive board of Amazon’s board and Andy Jassy will become CEO. In the role of the Exec Chair, I intend to focus my energies and attention on new products and initial initiatives. Andy is well known in the company and has been on Amazon for almost as long as I have. He will be a prominent leader and has all my confidence.
This journey began about 27 years ago. Amazon was just an idea and had no name. The question I was asked most often at the time was, “What is the Internet?” Thankfully, I haven’t had to explain it in a long time.
Today we employ 1.3 million dedicated and talented people, serve hundreds of millions of clients and companies and are widely recognized as one of the most successful companies in the world.
How did this happen? Invention. Invention is the root of our success. We did crazy things together and then we did normal things. We pioneered customer reviews, personalized 1-click recommendations, incredibly fast Prime shipments, Just Walk Out shopping, Climate Pledge, Kindle, Alexa, Marketplace, Cloud computing infrastructure, Career Choice and more. If you do it right, a few years after an amazing invention, the new one has normalized. People yawn. And this yawn is the greatest praise an inventor can receive.
I don’t know of any other company with an invention history as good as Amazon’s and I think we are the most inventive now. I hope you are as proud of our invention as I am. I think you should be.
As Amazon grew, we decided to use our scale and reach to lead important social issues. Two high-impact examples: our $ 15 minimum wage and climate commitment. In both cases, we opted for leadership positions and asked others to accompany us. In both cases it works. Other big companies are coming our way. I hope you are proud of that too.
I find my work meaningful and fun. I get to work with smarter, more talented and witty teammates. When the times have been good, you have been humble. When times have been tough, you have been strong and supportive and we have made you laugh. It is a joy to work on this team.
As much as I continue to play dance in the office, I am thrilled with this transition. Millions of customers depend on us for our services and more than a million employees depend on us for their livelihood. Being the CEO of Amazon is a deep and consuming responsibility. When you have such a responsibility, it’s hard to pay attention to anything else. As president of the executive, I will remain committed to major Amazon initiatives, but I will also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post and my other passions. I’ve never had more energy and it’s not about retiring. I am very passionate about the impact I think these organizations can have.
Amazon couldn’t be better positioned for the future. We are firing on all cylinders, just as the world needs us. We have things going on that will continue to amaze. We serve individuals and businesses and have pioneered two complete industries and a new class of devices. We are leaders in areas as varied as machine learning and logistics, and if the idea of an Amazon requires a new institutional skill, we are flexible enough and patient enough to learn it.
Keep inventing and don’t despair when at first the idea sounds crazy. Remember to wander. Let curiosity be your compass. It’s still the first day.
Jeff
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