Jeff Bezos To Resign From CEO Of Amazon

Must Read

How To Leverage On Cold Calling to Help You Win Big In 2021

Cold calling is an old-fashioned sales strategy that involves sales representatives reaching out to prospective customers who have not...

Indian Marketers To Invest More On Social Media In 2013: 52% Focus On Customer Acquisition [Report]

Majority of e-Marketers are focusing on Customer Acquisition via Social Media in 2013, according to a latest e-Marketing research...

Are You A Gaming Geek: ‘Five Commandments’ Before You Buy Video Games Online !

Does your day start with joysticks instead of coffee mugs? Or as a kid your best friends were the...

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

Bitcoin Bounces Back: Could reach Record High By End of 2021

The value of Bitcoin touched a six-month high on Friday as traders were more confident that U.S. regulators will...

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 and unparalleled...

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, with a...

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 of the...

More Articles Like This