Jeff Bezos to Hand Over Amazon Responsibilities to Andy Jassy

On Monday, Andy Jassy will officially take over as the CEO of Amazon. Jeff Bezos is ready to pass the baton to someone else now. Over the past few months, many have stepped down from the upper franks of the company. These people have been with the company for a long time and have decided to take a different route.

A few months back, Bezos announced his departure from the CEO post. He said that he will step down from the CEO’s position and instead take on the role of Executive Chairman. Bezos further added that he wishes to focus on other projects as well and the position of Executive Chairman will help him in doing that.

Bezos sent an email to all the employees in which he wrote, "As Executive Chairman, 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. I've never had more energy, and this is not about retiring. I'm super passionate about the impact I think these organisations can have.”

Also Read: Jeff Bezos to Bid Goodbye to Amazon, Andy Jassy New CEO

The upcoming CEO Andy Jassy is the one who handles Amazon Web Services (AWS). Under Jassy, AWS made $12.7 billion in sales in the fourth quarter. He has been in the position for as long as AWS was here.

Jassy joined Amazon in 1997 and has been in the company ever since. He initially worked as the technical adviser to Bezos and grew in the company, later being named CEO of AWS. Now that Jassy will take over as the CEO of Amazon.Inc, he will have to understand that market, logistics and consumer behaviour to manage it as well as he managed AWS.

The new CEO will be taking over from July 5. This date is a significant one as this is when Amazon was incorporated, 27 years ago. "We chose that date because it’s a sentimental one for me. It's the date that Amazon was incorporated in 1994, exactly 27 years ago,” Bezos said