Jeff Bezos, the founder and CEO of Amazon, will hand over the reins of his company to Andy Jassy, a longtime devotee who runs Amazon Web Services (AWS). The news broke during the presentation of the fourth quarter financial results which saw the e-tailer rack up record profits of $ 7.2 billion (they were $ 3.3 billion a year earlier). In the last three months of the year, sales jumped 44% to $ 125.6 billion. The coronavirus pandemic and the resulting containment measures around the world played a key role in these exceptional results from Amazon.
Andy Jassy is a centerpiece in the Amazon empire. Arriving in 1997 as Marketing Director, he led the creation of Amazon Web Services (AWS) in 2003 which dominates the cloud computing market with about a third of the market share. In the fourth quarter, AWS achieved $ 12.7 billion in revenue.
If Jeff Bezos cedes his operational role as CEO, he remains Chairman of the Board. “ I will remain engaged in the big decisions of Amazon “, He assured. The passing of the torch will take place in the third quarter. Jeff Bezos intends to devote himself more to his philanthropic projects, the Day One Fund and the Earth Fund, as well as to his aerospace company Blue Origin and on a daily basis Washington post, which he owns.
Article from CNET.com adapted by CNETFrance