On February 2, 2021, Jeff Bezos announced publically to resign from the post of Chief executive officer of Amazon.com. He further told that he will remain attached to Amazon.com and will hold the post of Executive Chairperson of the Executive Board later this year.
Andy Jassy- New CEO of Amazon
Jeff Bezos is about to shift the role of CEO to Andrew R. Jassy. In the second half of 2021, Jassy will hold the responsibilities of Amazon.com as CEO. Let us have a look at the career successes of Jassy that can help you understand the reason to choose Jassy as CEO of Amazon.com.
Career Life of Jassy
Andrew Jassy was an energetic and motivated student. He started his professional career after completing graduation. He had been working at MBI, a career-based company for 5 years. Later on, he completed his MBA. He set up a company along with one of an MBI colleague. But he could not run it successfully and closed down the business.
In 1997, Jassy joined Amazon. Initially, he worked as a marketing manager at Amazon. Jassy along with Bezos worked on the idea of creating Amazon web services (AWS), a cloud computing platform. Jassy supervised the launching project of AWS and inaugurated the Amazon Web services in 2006. Jassy has worked as a Senior Vice president of AWS and later on promoted as CEO of the AWS due to his passionate contribution to the project.
The net worth of Millionaire Andy Jassy
By 2016, Jassy possessed $ 36.6 million. After becoming the CEO of Amazon web Services, Jassy earned $ 175,000. Jassy got a tremendous increase in his money stock due to receiving the restricted stock rewards. In 2018, he received a restricted stock unit reward valued more than approximately $ 31 million for 10,000 shares. Furthermore, another stock unit reward was received for 4023 shares valued at more than $ 12 million in 2020. In November 2020, the net worth of Andrew Jassy was $ 377 million.
Amazon’s remarkable journey with Jeff Bezos
Jeffrey Preston Bezos founded Amazon as an online book store in 1994. By the end of 1998, Amazon grew to sell music, videos, and various other consumer goods. In 2003, Amazon web services were launched. After witnessing various ups and downs in business life, Amazon became the world’s largest shopping retailer online in 2013.
Bezos-a Cent billionaire
Jeff Bezos is known as an American billionaire investor. In 2013, he purchased an American newspaper, the Washington Post. Internet entrepreneur held the honor of being the first lived centi-billionaire at the forum of Forbes wealth index. He is the largest shareholder of Amazon.com and Amazon web services.
By the end of 2020, Bezos was recognized as the world’s richest person in modern history with a net worth exceeding up to $ 200 billion. In January 2021, the wealth index of Forbes listed Bezos as the second richest person worldwide, updating Elon Musk as the first one in the race of billionaires.
Bezos got worldwide recognition as CEO of Amazon. The active role of Bezos at Amazon heightened the fame and success of the international technology company in the digital business world. The announcement of resignation initially gave an impact that Bezos was going to take retirement. In the later talk, the confusion was made clear when Jeff Bezos revealed his intentions to focus on other ventures.
What’ the next engagement of Bezos?
Bezos conveyed that he will not step down from Amazon. Rather it is the just transition of role from CEO to Executive Chairperson of executive Board. The reason to step down as Amazon’s CEO is to focus on other larger projects he is involved in.
Bezos expressed that funding projects, Washington Post, and his other investments require his attention. He thinks that he has never been as passionate and motivated as he is now. Blue Origin is the competitor company of Elon Musk’s SpaceX. Bezos is passionate to get involved in the space projects operated by Blue Origin. The mission of Blue origin is to make the space transport more accessible to the customers. Blue Origin has been working on reusable space transport equipment and systems.
Bezos intends to focus on Charitable Day 1 Fund that was initiated in 2018. The goal of this Charity is to raise funds for homeless families and support educational opportunities.
Washington Post is the media Proprietary of Bezos and he wants to focus to excel the development and services provided by the newspaper. Billionaire, with a net worth exceeding $ 2 billion, considers that it is the right time to start new charity funds and projects. Additionally, he needs to throw his attention towards already started companies, funds, and projects.
Why Andy Jassy only?
Andy Jassy has been attached to Amazon since its existence. Jassy is well known to Amazon and its mission. His remarkable contribution at Amazon led him to become CEO of Amazon Web Services. Bezos is the largest stockholder of Amazon. Jeff Bezos seems satisfied with the selection of Jassy for the role of CEO at Amazon.com as Jassy has contributed energetically and creatively to the largest online shopping hub globally.
It is not the first time that the CEO of any larger entrepreneurship has resigned from the post to focus on other ventures. In 2000, Bill Gates did the same by stepping down from the post of CEO of Microsoft. Gates focused on his Bill and Melinda foundation after becoming Executive Chairperson of the Executive board run by Microsoft.
Bezos has contributed superbly to develop the Annual revenue of Amazon. Now, critics are looking forward to Andrew Jassy for new projects and developments. The journey of Amazon with Jeff Bezos is memorable. The turning of an online bookselling store into the world’s largest shopping retailer is remarkable. Amazon has touched the horizons of success under the supervision of Jeff Bezos and the same is expected from the new CEO.