5 things to know as he replaces Jeff Bezo

Immediately is a historic day in Amazon’s historical past. Precisely 27 years after Jeff Bezos based Amazon, on July 5, 1994, the world’s richest and strongest enterprise chief will probably be stepping down as the corporate’s CEO. He’ll get replaced by Andy Jassy, a long-time Amazon worker. Right here’s what you want to know concerning the transition.

  • Jeff Bezos’ new function: Whereas Bezos is stepping down as CEO of Amazon, he will keep on on the firm in one other function – that of government chairman. Nevertheless, Bezos will largely keep out of the day-to-day runnings of Amazon. As an alternative, he is anticipated to focus on his different firm – Blue Origin, and its house initiatives.
  • Andy Jassy helped construct Amazon right into a powerhouse, too: Whereas Bezos will get just about all the credit score for constructing Amazon into the $1.7 trillion firm it’s at the moment, Jassy had a giant hand in that too. He joined Amazon in 1997 and in 2003 was pivotal in serving to discovered Amazon Internet Providers. AWS is among the most worthwhile divisions at Amazon, producing greater than $13.5 billion in earnings for the corporate in 2020 – that’s 63% of Amazon’s whole earnings for the 12 months (per GeekWire).
  • Jassy as soon as hit Bezos with a kayak paddle: One in every of Jassy’s most memorable interactions with Bezos got here in 1997, shortly after Jassy joined the corporate. In a recreation of broomball with firm workers, Jassy smacked Bezos on the pinnacle with a kayak paddle, reports Enterprise Insider. Clearly, the incident did nothing to hurt his profession prospects.
  • Jassy is a New York child: Jassy, 53, was born in 1968, making him 4 years youthful than Bezos. He grew up in Scarsdale, New York, and attended Harvard Enterprise Faculty. In a 2019 interview with Recode, Jassy mentioned, “I took my final remaining examination of graduate college the primary Friday of Might 1997. I began at Amazon the subsequent Monday, I didn’t know what my job was going to be.”
  • Jassy was Bezos’ former shadow: Earlier than heading AWS in 2003, Jassy spent 18 months as Bezos’ “shadow.” “On the time, we known as it a ‘shadow function.’ And it actually was like being Jeff’s shadow—I participated in all of his conferences, together with his one-on-ones,” Jassy told CRN in 2015. “For me, it was precious simply to give you the option to watch how Jeff operated day-after-day, as properly as his leaders and his direct studies.”