Jeff Bezos To Resign From CEO Of Amazon

Must Read

New RBI Guidelines Force You To Memorise All Of Your Card Details

It's time to get your brain prepped to do some much-needed homework and commit to memory the...

Bounce Layoff: Bike Rental Startup To Pivot Into New Vertical

Bike-rental startup Bounce has laid off a massive chunk of its workforce in a bid to survive...

Zomato Beefs Up Valuation Prior To IPO In Its Latest Fundraising Round!

Before heading to the stock market with an IPO, the homegrown food delivery startup Zomato beefs up...

The world’s second most richest person and the founder of the world’s e-commerce behemoth, Jeff Bezos to resign from the position of Chief Executive Officer (CEO) of Amazon.com, Inc. (NASDAQ: AMZN) – the company he founded 27 years ago.

In Amazon’s Q4 2020 earning release, the company has informed that in the third quarter of this year Bezos will transition to the role of executive chair.

So, who is going to replace Jeff Bezos to lead Amazon on the global front?

Advertisements

It’s Andy Jassy.

Andy is the chief executive of Amazon Web Services and he will take over as CEO of Amazon after Jeff Bezos steps down as CEO of Amazon.

Bezos believes that it’s time for him to focus on other responsibilities. He stated that the much needed transition will allow him to have the time and energy required to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and his other passions.

but, why the third quarter?

Jeff Bezos also feels that that the timeline set for the transition is optimal and will allow the Andy to have a smooth transition.

Advertisements

Investors, on the other hand, didn’t see much of problem here as Amazon posted an impressive report card of 2020. The company reported a whopping 84% YoY growth in its net profit and 38% YoY growth in net sales for the year ended December 31, 2020.

It remains to be seen how active Bezos will be in Amazon’s business in his new role.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Reliance Aims To Launch Its Own Version Of UPI-Like Payments Network With Google And Facebook!

The mammoth tech-petroleum conglomerate Reliance aims to create its own version of UPI! According...

TikTok Coughs Up $92 Million In Fine For Harvesting User Data Of Minors!

The popular short-form video app TikTok simply can’t catch a break! Besides dealing with its botched acquisition now stuck in limbo, the...

Facebook Continues Taking A Jab At Apple With New Marketing Campaign

Even after a month of attacking and accusing Tim Cook Zuckerberg is still very much fizzle out from Apple’s major blow to...

Xiaomi Levels Up On India Manufacturing: 99% Smartphones Are Made In India

Xiaomi really is digging its heels to live up to a commitment. One of the first adopters of the...

After SMS, WhatsApp Now Becomes A Threat To Cell Calling: 1 Billion And Counting

It already buried the SMSes in the ground. Now, traditional cellular calling is next on the hit list. The number of WhatsApp...

Flipkart Quickly Learns From the Mistake Amazon Did: Setting Up A Level Playing Field For Sellers!

Unlike Amazon which allegedly implemented unethical strategies to tackles India’s FDI policy for e-commerce marketplaces, Flipkart plans to do it right!

In-Depth: Dprime

Will ‘TikTok By Microsoft’ Be A Winner?

For the last two years, TikTok has been in the public eye for all sorts of reasons. First, it was the exploded...

Facebook Subscription Model: Looking Beyond Ad Dollars?

Seldom do job listings create a stir this gripping. However, when the job listing in question is a stealth post from Twitter,...

Will The Online Food Delivery Market in India End Up Becoming A Two-Horse Race?

It's pretty much evident that the food delivery space in India is all set to get riled up soon enough as one...

More Articles Like This