Jeff Bezos To Step Down As CEO Of Amazon

Amazon.com Inc on Tuesday said originator Jeff Bezos would be renouncing his role as CEO and become executive chairman, as the organization announced its third successive record profit and quarterly deals above $100 billion.

Currently the chief of Amazon Web Services, Andy Jassy a long-term Amazon veteran and employee for almost 24 years now will take over as the CEO in the third quarter of the year. In the wake of venturing down as CEO, Bezos will now be seen as the executive chairman for the company’s board of directors.

Jassy’s Amazon Web Services (AWS), traditionally a bright spot, fell slightly short of expectations. While the cloud computing division announced deals in the quarter with Viacom CBS, the BMW Group and others, it posted revenue of $12.7 billion, short of the $12.8 billion analysts had estimated.

As of 2020, more than 213 million guests frequented Amazon Sites - a figure that is set to increment quickly during the Christmas shopping season. As indicated by clients in the United States, the main purposes behind shopping on Amazon are its conveyance administration, expansive selection and costs. While U.S. consumer loyalty with Amazon.com has changed throughout the long term, the e-retailer stays one of the five most persuasive tech goliaths on the planet.

Speaking about his continued role in the Amazon ecosystem, Bezos wrote, "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." 

Concluding his address, Bezos further added, "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."

Since the beginning of the U.S. Covid-19 outbreak , buyers have gone progressively to Amazon for conveyance of home staples and clinical supplies. Physical shops shut their doors; Amazon, the world's biggest online retailer, rather selected more than 400,000 additional laborers and posted successive record benefits.

Bezos' Amazon has additionally developed into perhaps the main organizations in India's innovation area, and holds a solid presence in the Indian e-commerce too. Going ahead, it will be intriguing to perceive what the reshuffle brings ahead for Amazon, which presently joins the semblance of Microsoft and Google in the rundown of enormous tech organizations today that have transitioned on to more noteworthy statures, even without their originators as the CEOs.