Jeff Bezos steps down as Amazon CEO
Amazon Founder & CEO Jeff Bezos stepped down after 27 years of running Amazon. The company is now worth $1.7 trillion.
Amazon cloud-computing manager Andy Jassy replaced Jeff Bezos. The company announced this type of change in February. Still, Bezos remained the biggest shareholder of amazon worth $180 billion. Bezos started the company back in 1995 when online product delivery raised some eyebrows. But constant work and change towards digital transformation made Amazon one of the role models in history. The eCommerce giant serves billions of customers.
2004 was another successful year of business for Amazon. At that time, Bezos and Colin Bryar, technical adviser went to Amazon’s customer service headquartered in Washington state. They spent two days there and Bezos himself talked with customers and solved their issues. According to Colin, “Jeff’s eyes went wide” after continuously listening to complaints as he was taking the calls personally. Nonetheless, he was frustrated and wanted to do something with the product.
Amazon don't stops being an eCommerce site. They launched cloud services, healthcare and owns over 40 subsidiaries including Twitch, IMBD, Kiva Systems, and Zappos.
In pandemic times, Amazon saw a 36 per cent rise in sales last year. To cope with this adequately, amazon hired 500,000 new personals to work in the company. Which is a 60 per cent gain of new workers.
Amazon has a motto to always prioritise customers. Bezos himself practised and made it a trend to do so. In the meetings and press conferences, he always talks about customers. During the start of the company, Bezos put less priory on profit and more on customers.
Many people working in the senior managerial board expressed opinions and how the company functions. Even the slightest mistakes are not taken for granted and the whole team of staff sits in meeting for improving the situation.
Though Bezos had a tough run in many places with claims for not paying taxes. A company like this cannot go out of the radar doing stuff like this. Also, a Bezos is on the venture to space. Similar to Elon Musk, founder of SpaceX, trying to colonise Mars and hoping for human habitation outside planet earth. Bezos is taking quite a similar approach towards space missions with his company Blue Origin. But a recent petition signed by over 150,000 people for letting Bezos staying in space and not coming back. Though it's mostly seen as a meme.
Jeff Bezos created a global retail and internet behemoth and stepping down from all that is a big step that everyone can agree to. His successor Andy Jassy made Amazon Web Services (AWS) from scratch and it is the number one cloud company in the world. Of course, it had amazon funding and resources, but to be vastly successful besides the parent company is quite astonishing. This is why Bezos trusted Andy to be a great leader for the company.
What lies ahead is yet to be seen but he proved himself worthy. Jessy also believes in the freedom and the capital of companies. For this Bezos views Jessy as another entrepreneur like himself. Startup companies can be brave and take drastic decisions. But a company as large as Amazon and subsectors don’t have that. Large companies have more risks and it can affect the whole chain of business. According to Shouraboura, jeff was always very brave.
Bryar said Jeff liked to approach problems “backwards.” He will set up a time and work backwards through progress. At the time of core business meeting, besides having a ton of brilliant employees, Bezos kept it within two pizza circles. Means two pizzas can be shared with all the members of the meeting and they were key decision-makers. So, everyone can have an opinion and everyone’s opinion matters.
Team Amazon on new projects, does press release and take in a public reaction as the first step. Other companies release information once the product hits the market. It is a bold move and saves the economy and proved pretty efficient for amazon. This kind of event takes place regularly for a successful giant of a company.
Nonetheless, Microsoft founder and CEO Bill Gates also built an empire of business and had to leave too. That move proved to be a time suitable decision and jeff Bezos stepping down as CEO may prove the same.