On Tuesday 2nd February 2021, Jeff Bezos declared that he is going to step down as chief executive of Amazon, leaving the company's steering wheel of the company he founded almost 27 years ago.
Amazon will be shifting gear with the new executive in summers this year. Company said that the exact date would be 1st of July. Andy Jassy, who is the chief executive of Amazon Web Services, is going to replace Jeff as CEO of Amazon.
So why Jeff is retiring from the current position? Is he going to take a break?
While this summer could have been much cooler for Jeff had he taken a brake. But he will transition to the role of executive chair in the third quarter of this year.
Bezos said that he plans to focus on his philanthropic efforts including the Bezos Earth Fund and Day 1 Fund, which are mainly focused on helping homeless families and starting preschools in low-income communities and climate change, respectively. In addition to this he would be dedicating his time to his space exploration company Blue Origin and to The Washington Post, which he owns.
That sound like a good amount of time away from the hustle and bustle of Amazon's daily operations. It’s nice to delegate the decision taking business after stabilizing the company over 27 years and fortifying Amazon to be a $ 1.7 trillion valued business.
Well, a good luck to Mr. Jeff Bezos and all the best for future endeavor.
What is the thing that you would like Amazon to change, once the paradigm shift in power happens? Do let us know.