Jeff Bezos to step down as Amazon CEO || Andy Jassy to take over

#JeffBezos #Amazon #Bezos

In what is to be the biggest leadership change in the history of e-commerce giant, Amazon, its founder, Jeff Bezos, is stepping down from his role as CEO, and will be taking the position of executive chairman.

The head of Amazon Web Services, Andy Jassy, will take over as Amazon CEO from Jeff Bezos when he completes his handover, in the third quarter of 2021.

Andy Jassy has been one of the closest associates of Jeff Bezos and has been touted to eventually take over from the 57-year-old billionaire. Amazon made the announcement along with its fourth-quarter earnings for 2020, which saw it rise by 44%, to $126.56 billion.

While everything appears to be going well at Amazon financially, it may face a massive restructuring soon if US regulators and lawmakers find it guilty of anti-trust practices.

You may recall that CEOs of Amazon, Apple, Facebook and Google had faced a US antitrust committee in 2020, with a huge probability of them being forced to split their companies up if found guilty. In an email announcing his change of roles, Jeff Bezos told employees that he'll be focusing his energy on new products, and early initiatives, as well as other interests.

Amazon is the latest tech giant in the US to undergo a major leadership change. In 2019, Google founders, Larry Page and Sergey Brin stepped down as Alphabet's chief executive officer and president.

Their roles were absorbed by Google's CEO, Sundar Pichai. However, they maintained their positions on the company’s board. More recently, in 2020, Bill Gates stepped down from the Microsoft board of directors. He had stepped down as CEO back in 2000.

Jack Ma too had stepped down from Alibaba’s board in 2019, at the age of 55. It's only a matter of time before we see the same thing happen at Facebook, Twitter, and other tech giants.

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