Andy Jassy is officially amazon’s CEO after 27 years, company founder Jeff Bezos has officially stepped down from the Chief Executive role.
Amazon, arguably the largest retail online marketplace has had the same CEO since its inception after it first started as an online book store. It transitioned to online retail sales becoming one of the world’s most popular brands.
Jeff Bezos’s net worth has grown, as his company grew ultimately making him a billionaire. Amazon currently dominates online commerce for the United States.
Andy Jassy, Amazon’s CEO rounded off his studies at Havard Business School before joining the company in 1997. In 2003 He was team lead for the Amazon Web services division when it was founded 2003.
He officially became Amazon’s CEO on July 5th, which was previously announced in a shareholder meeting in May. And just like Microsoft’s CEO Satya Nadella, who led Microsoft’s Azure Cloud business Amazon has followed the same strategy.
Amazon isn’t the small online book store it used to be, it has already expanded to new areas of business. Its current e-commerce business is booming, and the company is making strides with its cloud computing business.
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In the consumer tech space, Amazon has a sizable presence with its range of Kindle, Echo, and ring products. Its recent acquisition of Wholefoods, technology disrupting Amazon Go, and Amazon Fresh stores.
Its current purchase of Film and TV company MGM for $8.45 billion shows the huge investments, the company is churning out for the future. Jeff Bezos is still much active in the Amazon business as Executive chair.
In an email to employees, Jeff Bezos mentioned that he will “stay engaged in important Amazon initiatives” while he spends more time on his other projects such as his fund foundations, the Blue Origin space company, and The Washington Post newspaper.
Andy Jassy has big boots to fill, as he leads the Amazon enterprise into the future.
Rising competition in the cloud business, Amazon’s impending worker’s unions, and allegations from antitrust bodies in regards to data are hurdles Andy Jassy will have to tackle as company CEO.
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