Amazon founder Jeff Bezos is to step down as chief executive of Amazon, the world-famous e-commerce platform that he started in his garage nearly 30 years ago to become executive chairman, a move to allow him focus on his other enterprises.
Jeff Bezos, worth $200bn was once adjudged the wealthiest man in the world but is second to Elon Musk today. He is set to be replaced by Andy Jassy, Amazon’s cloud computing business lead in the role of CEO. Though this change of hands is scheduled to take place in the second half of 2021, Bezos on Thursday, April 15th 2021 issued his last letter as chief executive of the e-commerce giant.
Jeff Bezos, 57 years old now, has led Amazon since 1994 when he started it as an online bookshop. Today, the capitalist machinery that Amazon has grown into employs 1.3 million people globally and is involved in ventures spanning package delivery, streaming video, cloud services and advertising.
Though the handing over of the day-to-day administration of the company came as a surprise, little to nothing has and will change in the firm’s market value.
Also, Jeff Bezos in his last letter outlined the company’s future plans of paying more attention to employees, committing to treating workers as well as customers.