Jeff Bezos to step down as Amazon CEO later this year

Bezos will hand the company’s reins over to his friend and colleague, Andrew Jassy, after 27 years of service. Maybe Jassy is best known for founding the immensely popular Web Services (AWS) division of Amazon.

AWS is a platform for cloud computing that serves well over a million users; indeed, it is the reason why today many of your favorite websites and services are live. The popularity of AWS, combined with the long career of Jassy at Amazon — he joined in 1997 — made it clear to Bezos that he was the right man for the job.

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Within the company, Andy is well-known and has been at Amazon for almost as long as I have, “Andy is well known inside the company and has been at Amazon almost as long as I have,” “He will be an outstanding leader, and he has my full confidence.” The query now on all our minds is… Oh, why? Why is Bezos, of all times, leaving now? Amazon is in better financial condition than ever, and one of the richest individuals on the planet is the soon-to-be-ex CEO.

The response, apparently, is simple: time. Right now, Bezos is responsible for many companies and projects, including the Day 1 Fund, the Bezos Planet Fund, and, to name a few, Blue Roots. According to him, his position as Amazon’s leader just doesn’t leave him enough time and energy to give anything to these other ventures.

Bezos would be in a much stronger place to help those organizations succeed when he eventually steps down from the leadership position.

As mentioned before, the decision of Bezos here does not reflect a total detachment from Amazon as a company. Bezos will still be able to exert some power and influence over the overall course of Amazon since becoming Chairman of the Board, without needing him to be as present for the daily operations. The multi-billionaire sounds like a balanced balance.