Amazon CEO Jeff Bezos—who made the Amazon one of the most powerful corporations in the words of a normal bookselling company—is going to leave the company and will no longer be pronounced the CEO of Amazon.
On Monday (July 5th) he is going to hand over his position to chief executive to Andy Jassy. He will now be focusing on his private space-exploration firm and philanthropy.
“Bezos has been a transformational leader… in book selling, the retail market, cloud computing and home delivery,” said Darrell West, a senior fellow at the Brookings Institution’s Center for Technology Innovation, reports news agency AFP.
“He was a pioneer who introduced many of the conveniences that people take for granted, such as going to an online store, ordering something, and having it delivered to your home the next day. The whole e-commerce sector owes many of its innovations to this individual,” he added.
Amazon’s current market value is more than $1.7 trillion. In 2020, amazon’s annual revenue was $386 billion that came from its operations in groceries, AI, online streaming service, e-commerce and more.
Now a question arises that ‘What will be the future of Amazon?’ The answer to this question is in future’s womb. Of course, the departure of Bezos will definitely change things but not necessarily in negative way. As of now, it cannot be predicted how will this news affect amazon, but it is certain that other big firms may see it as an opportunity.