The boss and founder of Amazon will step down as CEO in the third quarter of 2021. Jeff Bezos has already announced the name of his successor: Andy Jassy, his right-hand man and the leader of the Amazon Web Services (AWS) industry.
Jeff Bezos steps down as CEO but remains executive chairman
Jeff Bezos will step down as Chairman and CEO in the third quarter of 2021. The deadline is still far away, but the founder of Amazon has already chosen his successor, Andy Jassy. The latter has worked alongside Jeff Bezos since 1997 and runs the very lucrative Amazon Web Services (AWS) industry.
If Jeff Bezos leaves the management of his company, it remains however the largest shareholder of Amazon, with 10.6% of the group’s shares. He will therefore continue to sit on the Board of Directors as Executive Chairman. The choice to place Andy Jassy at the head of Amazon should not however lead to major strategic changes.
Andy Jassy right-hand man alongside Bezos for 24 years
He is at the head of the most lucrative sector of the Amazon group and will soon be appointed CEO of the group; but who is Andy Jassy? 53-year-old Andy JAssy has worked alongside Jeff Bezos since 1997. He is also the head of Amazon Web Services (AWS), the group’s most lucrative subsidiary, since in 2020, it made more than half of the profits of the Amazon group.. In the third quarter of 2020, AWS had revenue of $ 11.6 billion, up 29% year-on-year.
Andy Jassy is not only at the head of Amazon Web Services, he is the inventor and director of it since its creation in 2006. With this creation, the group had revolutionized the economic model of certain companies thanks to the possibility of rent software tools or relocate tasks in the cloud.