Jeff Bezos gave up his CEO position at Amazon and selected Andy Jassy to be his successor. Amazon was created about 27 years ago by Jeff Bezos in a small garage in West Bellevue, Washington.
Although Jeff Bezos will not be handling day-to-day responsibilities, he will continue to serve the tech mammoth as executive chairman. Andy Jassy has been Jeff’s long-time deputy and he will take Amazon to further success with innovation and diversity.
What is the plan ?
Jeff Bezos transformed Amazon which started as a bookselling startup to the largest online retailer in the world. It was Jeff, who steered the company at an impeccable pace through the dot-com bubble that appeared on earth in the beginning of the year 2000. Following this, Jeff Bezos became dominant in expansion plans and spread his influence beyond the niche of Internet e-commerce.
Currently, Amazon has collaborated with businesses that specialize in cloud computing, groceries, smart technology, fashion companies, and several others. Jeff has always been a visionary and appreciates the ‘right person at the right time perspective.
By making Andy Jassy as the CEO of Amazon, Jeff will diversify his energy into projects that concern massive philanthropy, climate crisis recovery, space quest with his company Blue Origins’ and loads of other cool stuff.
The Next Move :
Jeff Bezos is the largest shareholder of Amazon and he is just restructuring his plans for the future. Andy Jassy joined Amazon back in the year 1997 and has served the company as the chief executive of AWS or Amazon Web Services.
The Amazon Web Services is a cloud computing division of the company which has provided the most amount of profits. The AWS department assists large tech corporations like Netflix, Meta (formerly Facebook), and also Twitter.
The change in the role of CEO happened at a taxing time when the world was struck by the COVID-19 pandemic. Amidst such pandemonium, remote work settings empowered the global workforce and Amazon was able to bag massive profits.
This is because the average mass went for the e-commerce strategy more than outdoor shopping. The shift also demanded more services in cloud computing.
Some Takeaways :
Well! There are always two sides to a coin. Resorts suggest that Amazon abused its market dominance and Congress along with The Justice Department, Federal Trade Commission and European regulators accused the company of extreme leverage in the situation.
There were also reports from workers in Amazon warehouses that the condition working included massive pressure and deadlines. Although Jeffrey Preston Bezos is unusually talented in solving problems, such discrepancies at root levels should be addressed.
According to colleagues at Amazon, Andy Jassy has a soft-spoken and calm personality, which will add to the future prospects of an inclusive and less overwhelming work environment.
Who is Andy Jassy?
Andrew R. Jassy is an executive from America, who is currently the CEO of Amazon, since the year 2021. Mr. Jassy completed a Master’s in Business Administration from the Harvard Business School and joined Amazon in the year 1997.
Around the year 2003, he and Jeff Bezos strategized a platform for cloud computing which is known as Amazon Web Services. In 2006, AWS was launched and Andy headed a team of 57 skilled individuals.
In 2016, Andy Jassy was honored with the ‘Person of the Year award by the Financial Times. That same year, Andy earned about $ 36.6 million. For being the CEO of AWS, Andy was given a compensation of about $ 175,000 and about 4,023 restricted stocks in 2020.
