Amazon announced on Tuesday that Amazon Web Services (AWS) CEO Andy Jassy will replace Jeff Bezos as CEO during the third quarter of this year. Bezos will transition to executive chairman of Amazon’s board.
Bezos founded Amazon in 1994 and has since transformed it from an online bookstore into a mega online retailer that sells and delivers all types of products worldwide. In January last year, Amazon exceeded the market value of $ 1 trillion under Bezos’ leadership. Now it is worth more than $ 1.6 trillion.
Jassy joined Amazon in 1997 and has led the Amazon Web Services cloud team since its inception. AWS continues to generate much of Amazon’s profit
“I am excited to announce that in this third quarter I will transition to Executive Chairman of the Board of Amazon and Andy Jassy will become CEO,” said Bezos in a letter to employees. “As Executive Chairman, I intend to focus my energies and attention on new products and initial initiatives. Andy is well known within the company and has been with Amazon for almost as long as I have. He will be an exceptional leader, and he has all my confidence. “
Bezos said he will remain involved in major projects in the Amazon, but will also have more time to focus on the Bezos Earth Fund, its Blue Origin spacecraft, The Washington Post and the Amazon Day 1 Fund.
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I am pleased to announce that this third quarter I will transition to Executive Chairman of the Amazon Board and Andy Jassy will become CEO. As Executive President, I intend to focus my energies and attention on new products and initial initiatives. Andy is well known within the company and has been with Amazon for almost as long as I have. He will be a remarkable leader and has all my confidence.
This journey began about 27 years ago. Amazon was just an idea and had no name. The question I was asked most often at that time was, “What is the Internet?” Fortunately, I haven’t had to explain this in a long time.
Today, we employ 1.3 million talented and dedicated people, serve hundreds of millions of customers and businesses, and are widely recognized as one of the most successful companies in the world.
How did this happen? Invention. The invention is the root of our success. We did crazy things together and then made them normal. We were pioneers in customer reviews, 1-Click, personalized recommendations, incredibly fast shipping from Prime, Just Walk Out purchases, Climate Pledge, Kindle, Alexa, marketplace, cloud computing infrastructure, Career Choice and more. If you get it right, a few years after a surprising invention, the new thing has become normal. People yawn. And that yawn is the highest compliment an inventor can receive.
I don’t know of another company with a history of inventions as good as that of Amazon, and I believe that we are in our most inventive moment. I hope you are as proud of our creativity as I am. I think you should be.
As Amazon became big, we decided to use our scale and scope to lead on important social issues. Two high-impact examples: our $ 15 minimum wage and Climate Commitment. In both cases, we set up leadership positions and then asked others to join us. In both cases, it is working. Other big companies are coming our way. I hope you are proud of that too.
I find my work meaningful and fun. I work with the most intelligent, talented and resourceful teammates. When times were good, you were humble. When times were tough, you were strong and supportive, and we made each other laugh. It is a joy to work on this team.
As much as I still tap dance in the office, I’m excited about this transition. Millions of customers depend on us for our services, and more than a million employees depend on us for their livelihood. Being the CEO of Amazon is a deep and exhausting responsibility. When you have a responsibility like that, it’s hard to pay attention to anything else. As executive chairman, I will continue to be involved in important Amazon initiatives, but I will also have the time and energy I need to focus on the Day 1 Fund, Bezos Earth Fund, Blue Origin, The Washington Post and my other passions. I’ve never had more energy and it’s not about retiring. I am very excited about the impact that I think these organizations can have.
Amazon couldn’t be better positioned for the future. We are firing on all cylinders, just as the world needs us. We have things in the pipeline that will continue to surprise. We serve individuals and businesses, and are pioneers in two complete industries and a whole new class of devices. We are leaders in areas as varied as machine learning and logistics, and if the idea of an Amazonian requires another new institutional skill, we are flexible and patient enough to learn it.
Keep inventing and don’t despair when the idea seems crazy at first. Remember to wander. Let curiosity be your compass. Day 1 remains.
Jeff
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