Home Technology Jeff Bezos Lets Go Of Amazon's Reins

Jeff Bezos Lets Go Of Amazon’s Reins

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27 years after founding Amazon Jeff Bezos loses the direct reins of the e-commerce giant. In a surprise announcement made in a presentation of results, it was reported that Bezos will step down as CEO in the third quarter, at which point he will be replaced by Andy Jassy, ​​who has been in charge of Amazon’s growing computing business in the US for years. cloud.

Bezos will then take over as CEO, where, as he explained in an email to employees, he intends to focus energy and attention on new products and early initiatives. Amazon is what it is my invention, Bezos said in that message. If you do things right, a few years after an amazing invention, the new thing has become normal. People yawn. That yawn is the highest compliment an inventor can receive. Right now Amazon is more inventive than ever, he continued, which makes it the optimal moment for this transition.

Although the announcement was not expected, it is not known if it could represent significant changes in Amazon’s business. Other CEOs of technology giants who have left office have remained closely linked in their companies, such as Bill Gates with Microsoft or Larry Ellison and Oracle. And at least investors have reacted calmly: the share price has practically not changed after the announcement.

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Other Passions

In the message to employees, Bezos, 57, also explained that the transition will give him the time and energy that he says he needs for the Day 1 Fund (a philanthropic organization that finances organizations that provide services to the homeless ), the Bezos Earth Fund, his space company Blue Origin, the newspaper ‘ The Washington Post’ and what he describes as his other passions. I have never had more energy and this is not a retirement,  he added. I’m super passionate about the impact that I think these organizations can have.

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This journey began 27 years ago, Bezos has written. Amazon was just an idea and it had no name. The question that was asked me more frequently was what is the internet? Fortunately, I haven’t had to explain that in a long time. Today we employ 1.3 million talented and dedicated people, serve hundreds of millions of customers and businesses, and are widely recognized as one of the most successful companies in the world.

Results In The Pandemic

Bezos’ announcement came as the financial results for the last quarter of 2020 were released, in which Amazon posted a net profit of $ 7.2 billion. The sales boost that the pandemic has given it and the teleworking boom have made it exceed a net income of more than 100,000 million for the first time in its history and represents a 44% increase compared to the previous quarter.

The company, however, is also currently under more pressure from regulators and legislators, singled out like other Silicon Valley giants for their monopolistic practices. It also faces labor battles, with increasing efforts by its workers to break down its barriers to union organizing.

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Curiosity As A Compass

Bezos has closed his message to employees urging them to keep innovating. Keep inventing and don’t despair when at first the idea seems crazy,  he wrote. Remember to wander. Let curiosity be your compass. It’s still day. Bezos announced in January 2019 his divorce from Mackenzie Bezos, who co-founded Amazon, the company whose shares were divided when the marriage broke up. The magnate started a new relationship with the journalist Lauren Sánchez.

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