Amazon CEO Jeff Bezos He will leave his post in the third quarter of 2021 and will be replaced by Andy Jassy, who until now is the head of the company’s cloud computing unit.
For years, Jassy has been viewed as a potential successor to Bezos, who more than 25 years ago founded the company as an online bookstore from his Seattle garage and later became one of the richest men in the world.
In fact, Jassy’s replacement as CEO seemed inevitable last year when Jeff Wilke, who was the head of consumer business, announced that he was leaving the company this year.
Bezos, The driving force of the e-commerce giant since its founding, will become CEO, Amazon said.
The transition comes at a time when Amazon seems unstoppable, fueled by record sales amid the pandemic and generating huge profits in cash and in the cloud services business.
So Bezos won’t go very far; Like Bill Gates with Microsoft, he will remain president of the company after stepping down as CEO.
“When you look at our financial results, what you are really seeing is the long-term cumulative results of the invention,” Bezos said in a statement. “Right now, I see Amazon at its most inventive, which makes it an optimal time for this transition.”
In the letter that Bezos sent to his workers yesterday, he assures that “being the CEO of Amazon is a great responsibility and it also consumes. When you have a responsibility like that, it’s hard to pay attention to anything else. “
And add that “As chairman of the board of directors I will remain committed to important Amazon initiatives, but will also have the time and energy to focus on the Day 1 Fund, the Bezos Fund for Earth, Blue Origin, The Washington Post and other passions.”.
The reaction on Wall Street was mostly positive, even as Amazon posted another highly successful quarter and strong leadership.
The retailer Online reported that fourth-quarter sales increased 44% to $ 125.6 billion, beating the average analyst estimate of $ 119.7 billion.
Earnings were $ 14.09 per share, compared with analysts’ projections of $ 7.34.