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Jeff is no longer the king of the Amazon - Jeff Bezos steps down as CEO

piratemonkey
By piratemonkey
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Posted (edited)

Summary

 Jeff Bezos will no longer be the CEO of Amazon, stepping down to executive chair position later this year. Andy Jassy, head of the computing section of the company, will become the new CEO. The switch will happen during the third quarter of 2021.

 

Quotes

Quote

The Washington Post

Jeff Bezos, the founder of Amazon, will step down as chief executive of the e-commerce giant, turning over the reins to the company’s longtime cloud-computing boss Andy Jassy.

 

The Associated Press

Amazon said he'll be replaced in the fall by Andy Jassy, who runs Amazon's cloud business.

 

My thoughts

I doubt Amazon will change much, but quite interesting nonetheless. I wonder how Andy will lead the company. Hopefully though Amazon won't get more creepy, given Jassy is the computing boss.

 

Sources

https://www.washingtonpost.com/business/2021/02/02/jeff-bezos-stepping-down-amazon-ceo-transitioning-executive-chair-role/

 

https://apnews.com/article/amazoncom-inc-jeff-bezos-a5af30868a90cd300dd616796bc1aec2

 

Ps. I will update this if new information becomes available

Edited by piratemonkey

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Posted

WOAH.

 

im suprised

please quote me or tag me @wall03 so i can see your response

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Posted

Now the XKCD comic where Jeff talks through Alexa is outdated.

Why can't I find that one? It was so good.

elephants

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Posted
7 minutes ago, piratemonkey said:

Sources

https://www.washingtonpost.com/business/2021/02/02/jeff-bezos-stepping-down-amazon-ceo-transitioning-executive-chair-role/

 

Ps. I will update this if new information becomes available

TIL he also owns the Washington post....

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Posted
  • Author
Just now, TVwazhere said:

TIL he also owns the Washington post....

Oh yeah that's right lol. I can provide other sources too if you'd like

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2 minutes ago, piratemonkey said:

Oh yeah that's right lol. I can provide other sources too if you'd like

No, I dont think this violates TNPG in any way. Just had no idea until I read the article. 

 

He's not leaving the company though which is important to note. Just not the "lead guy", this might give him more time to explore his other companies. 

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  • Author

Added the transition date and the AP's article

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Has any reason been given? You usually don't just walk away from the CEO position of Amazon....

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18 minutes ago, DrMacintosh said:

Has any reason been given? You usually don't just walk away from the CEO position of Amazon....

Not uncommon for founders to move to oversight roles and let someone else be CEO, so they can focus on specific work or other interests, like the Google founders for example.

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Posted

So Lex Luthor Bezos is stepping down from his position, eh.

 

Well, when your fortune is already bigger than you could ever possibly spend for remainder of your life, there's not much point continuing to work at the top of a huge company I suppose.

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8 minutes ago, Loote said:

Probably lost a secret underground duel with some other filthy rich person.

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Posted

Wouldn't be surprised if he focuses more on Blue Origin (His spaceflight company).

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Posted

Ahhh... rich man begins his retirement. Good for him. 

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Posted

thats very surprising. No clear explanation why either which is extremely odd.

Its not surprising that he is stepping down at 20+ years of running the company, but usually you hear rumors about this sorta thing first or see the person starting up a new company to focus on.

I think he's done good running amazon. I've never understood the hate he gets. His company is definitely overvalued, but still solid. I could list hundreds companies run worse and more unethically than amazon.

Curious how the stock market will react to it over the next day or two.

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Either a) he's bored and wants to do something else with his country sized cash pile or b) Amazon (or Bezos) need some plausible deniability for some shady doings that may or may not be uncovered in the near future or c) recognises that the company he now has is vastly different to the one he started and wants to stand back to let more qualified individuals take more of a controlling role.

 

Or a little of all 3.

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1 minute ago, poochyena said:

thats very surprising. No clear explanation why either which is extremely odd.

Its not surprising that he is stepping down at 20+ years of running the company, but usually you hear rumors about this sorta thing first or see the person starting up a new company to focus on.

I think he's done good running amazon. I've never understood the hate he gets. His company is definitely overvalued, but still solid. I could list hundreds companies run worse and more unethically than amazon.

Curious how the stock market will react to it over the next day or two.

Yeah Amazon didn't go from a store just selling books to the gaint it is today by itself. As much as people give him crap he did make Amazon the huge company it is today and given the success the company has had he definitely has done a decent job as ceo. It will be interesting see where the new ceo takes Amazon next. 

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1 hour ago, Arika S said:

I hope he has enough money to support himself.... 

I know. How is he supposed to get by on that executive chair salary. 

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