UNITED STATES, WASHINGTON (EDUFINTECH) – Andy Jassy, currently head of the cloud branch, will become the new boss of the multinational in place of the founder, who will remain, according to him, “involved in the big decisions of Amazon”.
Jeff Bezos, the founder of Amazon, announced Tuesday, February 2, that he would this year cede the role of CEO of the e-commerce giant while remaining chairman of its board of directors.
The multi-billionaire, “head and head” for the title of the richest man in the world with Tesla boss Elon Musk, has turned an online bookstore into a powerful technology company, a must on the Internet. Andy Jassy, currently head of the group’s cloud branch (AWS), will become the new boss of the Seattle, Washington company in the third quarter.
“Amazon is [the company] it is thanks to inventions,” Jeff Bezos said in the group’s quarterly earnings release. “If you do it right, a few years after a surprising invention, new things become normal. People are yawning. It is the greatest compliment an inventor can receive , he continued. Amazon has never been so inventive, so now is a great time for this transition.”
Net profit doubled in the fourth quarter
“The departure of Bezos as managing director will cause a shock wave in the world of tech , reacted the analyst Dan Ives of the company Wedbush Securities. He’s a titan of the industry. It will leave an indelible mark; he changed the world.”
This announcement comes as Amazon emerges greatly strengthened from a year of pandemic that has exploded online commerce and cloud (remote computing) needs.
Its net profit doubled in the fourth quarter of 2020, to $ 7.2 billion (6 billion euros), thanks to the lucrative holiday season and containment measures in many countries. Amazon is worth more than $ 1.6 trillion on the stock market.
The future boss, Andy Jassy, joined Amazon when the company was still in its take-off phase, in 1997, as director of marketing. He founded Amazon Web Services there in 2003. The cloud branch, less known to the general public, has become one of the most profitable of the group that dominates this global market, ahead of Microsoft and Google.
“So that Amazon is focusing on this sector and its battle against Microsoft, the fact that Andy Jassy take the knobs indicates the beginning of a new chapter in the race to the cloud”, commented Mr. Ives.
“I will remain engaged in the big decisions of Amazon,” Jeff Bezos wrote in a letter to his employees, while having “the time and energy” to focus on his philanthropic works, the Day One Fund and the Earth Fund, his aerospace company Blue Origin and the daily Washington Post, which he owns.