Amazon CEO and Founder Bezos Retires Today

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Amazon CEO and founder Jeff Bezos (57) is stepping down as CEO today. He started the business when he was thirty, with a loan from his parents. At the time, Amazon was an online bookstore, today an e-commerce company where you can buy just about anything.

 

Amazon is also one of the biggest tech giants globally, with its own cloud and streaming services. But, of course, it didn’t hurt Bezos: he is the richest man in the world today, with an estimated wealth of about 170 billion euros, and will be launched in two weeks with a rocket from his own space company Blue Origin.

Bezos had already announced his departure as CEO in February, as well as who will be his successor. Andy Jassy has been with the company since its inception and until recently headed Amazon’s cloud computing arm. Bezos will remain active in the company as chairman of the board of directors but will be much less involved in day-to-day operations.

“This journey began 27 years ago when Amazon was just an idea without a name,” Bezos said in a statement. ‘I was often asked ‘What is the Internet?’ Fortunately, I haven’t had to answer them for a long time now. I now plan to focus my energy on new products and initiatives. Andy will be a fantastic leader and has my full confidence.’

Under the influence of the pandemic and the increased work from home, the good figures follow each other in rapid succession at the e-commerce giant. Amazon tripled its net profit in the first quarter of this year to $8.1 billion. Revenue grew 44 percent to $108.5 billion.

Amazon now has 1.3 million employees, but the working conditions and pay have often been criticized. The company opposes unions. At the start of the pandemic, there was frustration with the security measures in Amazon warehouses.

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