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Amazon’s Bezos stepping down as CEO | Home Accents Today


In a letter to staff, Amazon CEO Jeff Bezos introduced that he’ll step down from that place in Q3 this 12 months and transition to the function of govt chairman.

Andy Jassy will grow to be the Seattle-based e-commerce big’s new CEO.

“Within the Exec Chair function, I intend to focus my energies and a spotlight on new merchandise and early initiatives,” Bezos wrote. “Andy is well-known inside the corporate and has been at Amazon nearly so long as I’ve. He will likely be an excellent chief, and he has my full confidence.”

Bezos based Amazon in 1994 and led the corporate to its present place within the market. In monetary outcomes additionally introduced on Feb. 2, the identical day Bezos made his announcement, the corporate introduced that internet gross sales for 2020 reached $386.1 billion, whereas internet earnings rose to $21.3 billion within the fiscal 12 months.

Internet gross sales for the ultimate quarter of the 12 months elevated 44%, reaching $125.6 billion, and working earnings for the interval was up greater than 77%, from $3.9 billion within the 2019 quarter to $6.9 billion within the 2020 interval.

The Seattle-based firm additionally received into the house furnishings sport lately, launching proprietary manufacturers Rivet, Stone & Beam and Ravenna Dwelling.

“Amazon couldn’t be higher positioned for the longer term,” Bezos wrote. “We’re firing on all cylinders, simply because the world wants us to. We have now issues within the pipeline that can proceed to astonish. We serve people and enterprises, and we’ve pioneered two full industries and an entire new class of gadgets. We’re leaders in areas as various as machine studying and logistics, and if an Amazonian’s concept requires one more new institutional ability, we’re versatile sufficient and affected person sufficient to study it.”

Learn the complete letter here.

Thomas Lester is Digital/Managing Editor for Dwelling Accents At present. A graduate of Emory & Henry Faculty’s Mass Communications program, Lester spent a dozen years working for newspapers in Virginia and North Carolina masking an array of topics, starting from neighborhood information, authorities, schooling, ACC sports activities, skilled baseball and extra earlier than becoming a member of Dwelling Accents At present in 2013. Attain out to me along with your story concepts, suggestions and extra at tlester@homeaccentstoday.com.

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