Andy Jassy is announced as his successor.
Amazon CEO Jeff Bezos today announced that he is stepping down from his role after 26 years, ending his term at one of the most successful tech companies in the world. He will take his place as an executive chair amongst Amazon’s board of directors, while Amazon Web Services (AWS) head Andy Jassy will be transitioning as the new CEO.
The announcement was made through an email sent to Amazon employees yesterday. Jassy was a fit choice to replace Bezos, highlighting the lucrative AWS business as one of the most profitable sectors of Amazon in the past years. This also helped Amazon rake in more than $100 billion in revenue in the last quarter.
“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,” Bezos said in the email.
Bezos said that he will focus on Amazon’s growth as an executive chair, but will now have more ‘time and energy’ on new products and initiatives, citing his multiple acquisitions that include The Washington Post and others.
It’s interesting to see how Jassy will lead Amazon forward after two great decades with Bezos. It’s a challenge for sure, but it’s something we’re excited to see.