Who is Andy Jassy? Executive Chair, Current CEO of Amazon, Biography, Wiki
Bezos, 57, will be replaced by Andy Jassy, the current CEO of Amazon Web Services, and he will move to the role of Executive Chair where he says he wants to focus on ‘new products and initiatives’.
Jeff Bezos is stepping down as the CEO of Amazon, 28 years after founding it with his ex-wife and building it into one of the most successful companies of all time that is now worth $1.7trillion.
The move will not happen until the third quarter of this year.
Bezos announced the change in an email to staff on Tuesday afternoon.
He said: ‘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.’
Bezos founded Amazon in 1993 with his ex-wife MacKenzie.
It made him the richest man in the world with a net worth of $188billion. He and Elon Musk trade the title depending on their respective companies’ success in the markets.
Amazon’s share price went up by 1.1 percent after the announcement but were not dramatically changed.
Jassy was recently hailed by Amazon employees as a decisive ‘shark’.
It was his decision to end Amazon’s business with Parler, an unregulated social media site favored by the alt-right that was used, in part, to orchestrate the January 6 Capitol riot.
‘He has a tremendous amount of trust in his team, but you have to be at the highest levels of diligence and preparation for any meeting with him.
‘He’s a shark who will smell a drop of blood from 100 miles away if you’re not ready,’ one employee told Business Insider on January 31 in a profile about how he could become the next CEO.
In January 2019, Bezos and MacKenzie announced they were divorcing after it was revealed he had been having a relationship with TV personality Lauren Sanchez.
The divorce split the company stocks, and made MacKenzie the richest woman in the world with a settlement of around $38billion.
That nearly doubled throughout the COVID-19 pandemic as Amazon – one of the only retailers that could continue because of its online retail model – thrived.
MacKenzie has put her ex-husband to shame in recent months with her charitable giving.
Bezos didn’t explain the timing for the announcement on Tuesday.