So, Amazon’s Jeff Bezos has officially handed over the mantle of CEO to the company’s former cloud services chief, Andy Jassy. Bezos held the position for almost three decades. The billionaire will now serve on Amazon’s board as the executive chair.
In February, Jeff Bezos announced plans to step down. “[I need] the time and energy to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions,” Bezos said. “As executive chair, I will stay engaged in important Amazon initiatives.”
Jeff Bezos’s Reign at Amazon
Jeff Bezos has come a long way. But his tenure as CEO had its fair share of controversy. In 2019, over 1,000 Amazon employees protested Bezos’ apparent indifference to climate change. Then in 2020, the e-retailer’s workers organized a series of protests in front of Bezos’ home, demanding he prioritizes their health and safety.
Again, in June this year, when the billionaire announced plans to travel to space, over 130,000 netizens signed a petition to keep him from returning. Some of the petitioners accused him of being “hellbent on global domination.”
Regardless, it’s safe to say Jeff Bezos has done a great job financially. Under his leadership, Amazon’s report changed from a tiny e-retailer to a 1.7-trillion-dollar tech behemoth. Jeff Bezos himself – as Amazon’s largest individual shareholder – became the world’s richest man, with a peak net worth of $202 billion.
The Way Forward
New CEO, Andy Jassy will be looking to take Amazon a step further. Maybe, even improve the company’s public outlook. However, it won’t be easy. “Being the CEO of Amazon is a deep responsibility, and it’s consuming” Jeff Bezos once said.
But hopefully, the position of CEO isn’t too much to ask of Jassy, who has already proven himself capable. Under its newest leader, Amazon will be looking to branch into more new markets and expand into new countries.