Seattle’s Amazon Chief Bezos to handover reins to AWS head Jassy as sales top $100bn



by   |  VIEW 617

Seattle’s Amazon Chief Bezos to handover reins to AWS head Jassy as sales top $100bn

In what could be contemplated as an entirely unprecedented move from Amazon Chief that seemingly bolted out of the blue, Amazon.com Inc founder and Chief Executive Jeff Bezos said late on Tuesday that he would step down as the world’s No 1 online retailer’s Chief Executive Officer in the third quarter of current fiscal year and take the role of Executive Chairman as the company’s Q4, 2020 sales topped $100 billion for the first time on record.

On top of that, as Amazon.com Inc had reported a third straight quarter of gains late in the day, Bezos, 57, the world’s second-richest man to-date, had also added that he would handover the keys of Amazon.com Inc to AWS head Andy Jassy, putting an end to a long-running garrulous debate on who would succeed as the next Amazon Chief.

Amazon sales top $100bn; Bezos to give Amazon reins to cloud head Jassy

Aside from that, Jassy, 53, who had joined Amazon.com Inc back in the 1997s after Harvard Business School, founded AWS (Amazon Web Service) and made it the second-best cloud platform behind Microsoft’s Azure, had long been a contender for the top job in the Seattle-based world’s largest online retailer since Amazon had created two Chief Executive roles, Amazon.com Inc.

website posted late in the day. More importantly, followed by the announcement, adding that Jassy’s promotion had illustrated the significance of AWS in Amazon’s future, a Chief Transformation Officer at Mindshare Worldwide, Tom Johnson said, “Jassy’s background in steering AWS shows just how top of mind those services are to Amazon’s business strategy.

It’ll be interesting to see how that affects their strategy and balancing that priority with a growing ad business and the commerce behemoth”. Meanwhile, according to Amazon.com Inc’s fourth-quarterly earnings’ report revealed late in the day, the world’s largest online retailer’s sales surged to a record $125.56 billion as pandemic-wary consumers turned online for holiday season shopping.

Surprisingly, despite an upbeat quarterly earnings’ report, Nasdaq-listed Amazon.com Inc shares remained almost unaltered following Jeff Bezos announcement to hand over Amazon reins to cloud boss Jassy.