Jeff Bezos Steps Down As CEO of Amazon: What Happens Next?

What does this mean as Jeff Bezos Steps Down As CEO of Amazon?

The current World’s Richest man Jeff Bezos steps down as CEO of Amazon. He started with an online bookstore in 1993 and today it has a market value of 1.7 Trillion dollars. Leaving his legacy behind, Jeff Bezos will work and focus on space exploration and philanthropy. Amazon’s AWS leader Andy Jessy is going to take over as CEO of Amazon.

Amazon’s new CEO

Andy Jessy’s prior experience was at Whole Foods and he has an MBA from Columbia Business School. The 47-year-old Andy Jessy has a lot of experience and many famous competitors to fight. His childhood was spent growing up in the suburbs of Washington D.C. His father was an entrepreneur. At the age of 16, Andy took over the business and worked for it until he had saved enough money to go to college. 

Andy went to the University of Missouri and received an MBA in Finance and International Business in 2002. He then worked at the hedge fund that his father founded. He has since been with Whole Foods from 2006 to 2016 where he became Chief Financial Officer. In 2016, Andy Jessy became the CEO of AWS and the second in the company’s history. Now, as Jeff Bezos steps down as CEO of Amazon, he is the man to look into Amazon.

Jeff Bezos’ legacy

After five decades at Amazon.com Inc., Jeff Bezos has decided to step down as a chief executive officer of the world’s largest online retailer. His fellow executive officer, Andrew Jassy will take over as the CEO of Amazon. After 27 years with the company, Bezos will focus on his space company Blue Origin.

Jeff Bezos’s journey started in 1994, the year that Amazon.com was founded, Jeff Bezos was only 24 years old. In 1994, he also published a 600-page business plan for Amazon. In the early days, Amazon.com only sold books. Since then, they have expanded their offerings to include home goods, consumer electronics, music, and video streaming, and cloud services. Jeff Bezos is no stranger to number one by 2021, he is worth $150 Billion.

The Future of Amazon

Away from Amazon, as Mr. Jeff Bezos steps down as CEO, he is focused on developing his own rocket company with rocket experts. This project is expected to create up to 10,000 jobs in Florida and Texas. As the Internet of things moves to where the devices are, Mr. Bezos’ company is building a rocket called New Glenn that will lift off. Don’t Miss: Will Google MUM kill SEO?

Mr. Bezos invested more than $1 billion in the space-travel company, Blue Origin, as well as on Thursday, Amazon also announced it would start selling the Amazon Echo device and related software on Apple’s iOS platform. According to The Verge, Mr. Bezos revealed that they had “talked to Apple, but it didn’t feel like we were getting a lot of traction with them.

Conclusion

By the end of 2023, it is estimated that 20% of the world’s data will be stored in the cloud. Amazon already dominates the cloud market with 33% of the market. By the end of 2021, Amazon is expected to have 8,000+ data centers worldwide. If you want to buy shoes or fill out a job application, Amazon will become the most convenient channel. 

With other retailers or e-commerce channels, there are many steps to go through before you receive the item. With Amazon, the process is a click away. Amazon Cloud is the easiest way for you to access or store your data online. Just log in, and you’re in business. There are a bunch of paid plans as well as a free plan that is limited to 250GB. You can store files locally on your device. 

It is only time that would tell about how Andy Jessy drives the legacy and future of Amazon as Jeff Bezos steps down as CEO. Being Bezos’s choice, he would surely nail it. What are your opinions as Jeff Bezos steps down as CEO of Amazon?