Andy Jassy takes over as CEO of Jeff Bezos, Amazon.

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Jeff Bezos, who served as Amazon CEO since it was founded on 5 July 1994 just 27 years ago, has formally retired. Andy Jassy is now a firm CEO on its website for investor relations, after Amazon Web Services has been operating since 2003, while Bezos has been appointed Executive Chair. The date of 5 July had previously been announced during a shareholder meeting in May.

This is a crucial occasion for Amazon, which over its entire history has the same CEO. Under Bezos, the firm survived the dot-com bubble that exploded in the late 90’s and became one of the leading technological corporations in the world. Amazon now dominates the online business in the United States and parts of Europe, and thanks to Amazon Web Services acts as a backbone to many modern websites.

The successor of Bezos Andy Jassy, who graduated from Harvard Business School in 1997, has joined the company and led AWS since the team’s inception in 2003. In 2016, he was formally appointed CEO of the Division. At the end of 2020, AWS owned roughly one third of the overall cloud computing industry in conjunction with its nearest opponents, Microsoft and Google, according to Synergy Research. The route of Jassy is comparable to the current Microsoft CEO Satya Nadella, formerly responsible for the Azure cloud business.

Although Bezos’s stock price was remarkably successful, its work practise, not to mention the extraordinary wealth of the former CEO, has been the focus of repeated criticism. Warehouse workers and delivery drivers have stated that the company’s high productivity standards have physically affected employees, and a recent ProPublica survey suggested that Bezos had not paid federal income tax in 2007 or 2011.

Bezos hands over Jassy a corporation with ambitions far beyond electronic books. The e-commerce and cloud computing company is also a ready-to-use corporation in new business fields. Thanks to its variety of Kindle, Echo, Ring, and Eero gadgets and general consumer items under its Amazon Basics label, Amazon is a major consumer technology business.

After it has purchased Whole Foods and launched its own Amazon Go and Amazon Fresh shops, it has a growing presence in physical retail. And in the field of entertainment, it completed its largest acquisition with a $8.45 billion acquisition of the movie and TV business MGM. There’s also Amazon Music and a branch of video games that Jassy has supported despite his turbulent history. And don’t forget about healthcare and fashion investments.

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