With every position, comes its own responsibility. Being a CEO is no easy matter, not to mention a CEO of a big company. With that being said, being Jeff Bezos also is not as easy as it may sound, despite the net worth he has.
Jeff Bezos started his company, Amazon from scratch. From there, he climbed the steps one by one and put Amazon at where it is now. Hence, it is about time for him to let go of the position CEO of Amazon and move on to the executive position.
In the email announcing his transition, Bezos said that, “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.”
Ever since the company started in 1994, Amazon has reign the internet commerce and established as a key player in the modern web through its Amazon Web Services products, built a subscription empire around its Amazon Prime services, started popular technology products like the Echo and Kindle lines of devices, and even started playing in physical retail through grocery stores and an acquisition of Whole Foods.
His prosperity as the company’s leader also made him the single richest human on Earth, with a net worth of nearly $180 billion until a few weeks ago.
His transition will let him be more removed from the day-to-day business of running the nearly $1.7 trillion company, allowing him to focus his “energies and attention on new products and early initiatives.”
Those projects in context are the $10 billion Bezos Earth Fund, which he created last year, and Blue Origins, his aerospace firm, which recently resumed test flights at the end of 2020.
His current position will be given to Andy Jassy who is serving now as CEO of Amazon Web Services (AWS). He was the leader for the Amazon Web Services team since it was founded in 2003 and was named the CEO of AWS in 2016. His selection, who led Amazon’s cloud service since day one, has defined Amazon’s preferences as a company
The transition will be happening on the Q3 of 2021.