Andy Jassy Becomes the New CEO of Amazon
The founder of Amazon, Jeff Bezos, officially retires and hands over his seat to Andy Jassy. Jeff Bezos founded Amazon on 5th July 1994. After serving for 27 years, he finally steps down from his role.
According to the investor relations website, Andy Jessy is listed as the President and the new CEO of Amazon, while Jeff Bezos serves as the Executive Chair. The date of handover was announced on 26th May 2021 in a shareholder meeting. Andy Jessy is a product of Harvard University. He joined Amazon in 1997 as a marketing manager. In 2003, he along with Bezos came up with the plan of making a cloud computing platform that was later launched as Amazon Web Services in the year 2003.
Under Bezos’s leadership, the company has progressed a lot. Currently, Amazon dominates the online commerce platform in the US and parts of Europe. Though the share price of Amazon has seen exceptional uplift in the past few years under Bezos’s time, its labor practices have remained under criticism for long.
5th July 2021 is an important date for Amazon since it had the same CEO throughout its existence. Now time will tell what the future holds for Amazon under Andy Jassy’s leadership.