CEO of Amazon Jeff Bezos to step Down, Andy Jassy will be the next CEO

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CEO of Amazon
CEO of Amazon

CEO of Amazon Jeff Bezos to step Down, Andy Jassy will be the next CEO

On Tuesday Founder and CEO of Amazon Jeff Bezos would step down as CEO and become executive chairman, as the company reported its third consecutive record profit and quarterly sales above $100 billion for the first time.

Net sales rose to $125.56 billion as consumers turned to the world’s largest online retailer for holiday shopping, beating analyst estimates of $119.7 billion, according to IBES data from Refinitiv.

Who will be the next CEO of Amazon:

The next CEO of Amazon will be Andy Jassy, who heads Amazon Web Services.

Andy Jassy joined Amazon as a marketing manager in 1997 and in 2003 founded AWS, the cloud services division of the company which has been one of the most profitable but least-known units of the tech giant.

Jassy’s Amazon Web Services (AWS), traditionally a bright spot, fell slightly short of expectations. While the cloud computing division announced deals in the quarter with Viacom CBS, the BMW Group, and others, it posted revenue of $12.7 billion, short of the $12.8 billion analysts had estimated

Jeff Bezos great journey as a CEO of Amazon

Jeff Bezos who founded Amazon in his garage in 1994 back 27 years ago as an internet bookseller, said in a note to employees posted on Amazon’swebsite, “As Exec Chair I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions.”

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