Jeff Bezos Is Stepping Down From Amazon CEO Role

Putting his focus into the Bezos Earth Fund, Blue Origin spaceship company, The Washington Post and Amazon Day 1 Fund.

By
Tech 
4,910 Hypes 6 Comments

According to reports, Jeff Bezos is set to step down from his role as CEO of Amazon.

In an email to Amazon employees, the founder of the online marketplace for books turned mega-company revealed that he will be stepping down from his position come the third quarter of 2021. Stepping down, Bezos will become Amazon’s new Executive Chairman to turn over day-to-day operations to Andy Jassy, the current CEO of Amazon Web Services.

Taking a step back, Jeff Bezos will continue to be involved in Amazon projects but will put his focus into the Bezos Earth Fund, Blue Origin spaceship company, The Washington Post and Amazon Day 1 Fund.

Catch Jeff Bezos’ announcement to Amazon employees below.

Fellow Amazonians:

I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO. In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives. Andy is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader, and he has my full confidence.

This journey began some 27 years ago. Amazon was only an idea, and it had no name. The question I was asked most frequently at that time was, “What’s the internet?” Blessedly, I haven’t had to explain that in a long while.

Today, we employ 1.3 million talented, dedicated people, serve hundreds of millions of customers and businesses, and are widely recognized as one of the most successful companies in the world.

How did that happen? Invention. Invention is the root of our success. We’ve done crazy things together, and then made 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. If you get it right, a few years after a surprising invention, the new thing has become normal. People yawn. And that yawn is the greatest compliment an inventor can receive.

I don’t know of another company with an invention track record as good as Amazon’s, and I believe we are at our most inventive right now. I hope you are as proud of our inventiveness as I am. I think you should be.

As Amazon became large, we decided to use our scale and scope to lead on important social issues. Two high-impact examples: our $15 minimum wage and the Climate Pledge. In both cases, we staked out leadership positions and then asked others to come along with us. In both cases, it’s working. Other large companies are coming our way. I hope you’re proud of that as well.

I find my work meaningful and fun. I get to work with the smartest, most talented, most ingenious teammates. When times have been good, you’ve been humble. When times have been tough, you’ve been strong and supportive, and we’ve made each other laugh. It is a joy to work on this team.

As much as I still tap dance into the office, I’m excited about this transition. 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.

Amazon couldn’t be better positioned for the future. We are firing on all cylinders, just as the world needs us to. We have things in the pipeline that will continue to astonish. We serve individuals and enterprises, and we’ve pioneered two complete industries and a whole new class of devices. We are leaders in areas as varied as machine learning and logistics, and if an Amazonian’s idea requires yet another new institutional skill, we’re flexible enough and patient enough to learn it.

Keep inventing, and don’t despair when at first the idea looks crazy. Remember to wander. Let curiosity be your compass. It remains Day 1.

Jeff

In case you missed it, GameStop stock has dropped 81 percent with r/WallStreetBets investors facing major losses.

Read Full Article

What to Read Next

Uber Acquires Alcohol Delivery App Drizly for $1.1 Billion USD
Food & Beverage 

Uber Acquires Alcohol Delivery App Drizly for $1.1 Billion USD

The deal is expected to finalize before the first half of 2021.

Popeyes Jumps On the Stock Market Frenzy With Free "Tendies" for All
Food & Beverage

Popeyes Jumps On the Stock Market Frenzy With Free "Tendies" for All

Free chicken tenders redeemed using codes: “$GME,” “$AMC,” “$BB,” and “$NOK.”

Watch the Powerful New Trailer for Billie Eilish's Apple TV+ Documentary
Music

Watch the Powerful New Trailer for Billie Eilish's Apple TV+ Documentary

‘The World’s A Little Blurry’ premieres this February 2021.


Patrick Mahomes Rookie Card Auctions for $861,000 USD Becoming the World's Most Expensive Football Card Ever
Gaming

Patrick Mahomes Rookie Card Auctions for $861,000 USD Becoming the World's Most Expensive Football Card Ever

Only one of five in the world.

Rolls-Royce Delivers a Bespoke "Iridescent Opulence" Phantom to Abu Dhabi
Automotive

Rolls-Royce Delivers a Bespoke "Iridescent Opulence" Phantom to Abu Dhabi

Incorporating 3,000 selected tail feathers for their rich hue.

'Apex Legends' To Arrive on Nintendo Switch in March 2021
Gaming

'Apex Legends' To Arrive on Nintendo Switch in March 2021

Switch owners can team up with others through cross-platform play.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Adblock Detected.

We charge advertisers instead of our readers. If you enjoy our content, please add us to your adblocker's whitelist. We'd really appreciated it.