The change in positioning was caused by a slight decline in
The news also comes shortly after Bezos decided to step down from his position as CEO at Amazon, a company he founded back in 1994. “As much as I still tap dance into the office, I’m excited about this transition,” he wrote in an announcement to his employees. “Millions of customers depend on us for our services, and more than a million employees depend on us for their livelihoods. Being the CEO of Amazon is a deep responsibility, and it’s consuming. When you have a responsibility like that, it’s hard to put attention on anything else. As Exec Chair I will stay engaged in important Amazon initiatives but 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 this isn’t about retiring. I’m super passionate about the impact I think these organizations can have.”
Elsewhere in business-related news, Kering saw slower growth in 2020’s fourth quarter as Gucci sales drop 10 percent.