Amazon opens new chapter as Bezos cedes CEO role – .

Amazon opens new chapter as Bezos cedes CEO role – .

NEW YORK (AP) – Amazon founder Jeff Bezos stepped down as CEO on Monday, relinquishing the reins as the company takes on the challenges of a world struggling to emerge from the coronavirus pandemic.

Andy Jassy, ​​who ran Amazon’s cloud computing business, replaced Bezos, a change the company announced in February.

Bezos, Amazon’s largest shareholder with an estimated $ 180 billion stake, will still have his grip on the company he created in his Seattle garage in 1995. He takes on the role of executive chairman, with intend to focus on new products and initiatives.

Jassy takes over $ 1.7 trillion company that has benefited greatly from pandemic, more than tripling profits in the first quarter of 2021 and recording a record turnover as customers became increasingly dependent on online shopping.

At the same time, Amazon faces the activism of a restless workforce, just as a rapid economic recovery is causing a labor shortage that is forcing retailers, manufacturers and other businesses to fighting over workers with higher wages and other benefits. The company foiled an attempt by workers to organize at an Alabama warehouse earlier this year, but faces a more daunting challenge as the International Brotherhood of Teamsters launches a larger effort to organize Amazon workers.

In a blog post to employees earlier this year, Bezos said he plans to devote more time to side projects, including his space exploration company Blue Origin, philanthropic initiatives and overseeing the Washington Post, which he owns.

First, the richest man in the world according to Forbes’ estimate will fulfill his childhood dream of traveling to space. Bezos, 57, will explode in space on July 20 when Blue Origin makes its first flight with a crew, accompanied by his younger brother Mark, investor and volunteer firefighter.

Bezos founded Amazon as an online bookstore and turned it into a shopping and entertainment empire that is the second-largest private employer in the United States, behind Walmart. Amazon, which buys the MGM movie studio in its latest major acquisition, now makes films and sofas, owns a grocery chain, and plans to send satellites into space to transmit internet service to Earth.

Jassy, ​​who has worked at Amazon since 1997, ran the cloud computing company that powers the video streaming site Netflix and many other companies, making it one of Amazon’s most profitable businesses.

Among Jassy’s challenges more and more calls for stricter regulation of tech giants. A report by the House Judiciary Committee in October called for the eventual dismantling of Amazon and others, making it more difficult for them to acquire businesses and impose new rules to protect competition.


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