New Delhi: Online retail behemoth Amazon has announced that founder and CEO Jeff Bezos will transition to the role of Executive Chair in the third quarter of 2021 and Andy Jassy will become Chief Executive Officer at that time.
"Amazon is what it is because of invention. We do crazy things together and then make them normal. We pioneered customer reviews, 1-Click, personalized recommendations, Prime's insanely-fast shipping, Just Walk Out shopping, the Climate Pledge, Kindle, Alexa, marketplace, infrastructure cloud computing, Career Choice, and much more," said Jeff Bezos, Amazon founder and CEO.
"If you do it right, a few years after a surprising invention, the new thing has become normal. People yawn. That yawn is the greatest compliment an inventor can receive. When you look at our financial results, what you're actually seeing are the long-run cumulative results of invention. Right now I see Amazon at its most inventive ever, making it an optimal time for this transition."
Here is all you want to know about Andy Jassy, the man who will replace Jeff Bezos as Amazon CEO
Jassy joined Amazon in 1997.
Jassy has led Amazon Web Services (AWS) since it was founded in 2003 and was named the CEO of AWS in 2016.
AWS is the cloud-computing arm of Amazon. In the Q4 2020, AWS saw its revenue jump 28 per cent to $12.7 billion from $9.95 billion a year earlier. It is estimated that about half of the company’s revenue comes from Amazon Web Services (AWS).
He was raised in the New York City area.
Jassy holds an MBA Degree from Harvard Business School.
During his early career, he served as the first technical adviser to Bezos.
Jassy is an avid New York sports fan. He holds a minority stake in the Seattle Kraken expansion National Hockey League team.
Here’s also some lesser known fact about Amazon CEO Jeff Bezos
Bezos holds a graduate degree in electrical engineering and computer science.
He came to online retailing after quitting his job as a senior vice president at a Wall Street firm and driving across the US from New York on the East Coast to Seattle on the West Coast.
Bezos, started his company reportedly with an initial investment of $10,000 in 1994.
His net worth now is about $180 billion making him the world’s second-richest man.
From four workers — himself, his ex-wife and two programmers — working out of his house, his company now has about a million workers worldwide.
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