Amazon founder and CEO Jeff Bezos introduced in a letter to Amazon staff that as of the third quarter of 2021, he intends to transition to the function of government chair of the Amazon board. Andy Jassy, the CEO of Amazon Web Services (AWS) will change him as CEO of Amazon.
Since founding the corporate 23 years in the past, Bezos has grown Amazon into probably the most highly effective companies on the planet. It was simply the second U.S. business to achieve a market cap of $1 trillion (behind Apple), and that quantity is now round $1.7 trillion.
Based on the Bloomberg Billionaires Index, Bezos is presently the second-richest man on the planet, with a internet value of about $188 billion.
I’m excited to announce that this Q3 I’ll transition to Government Chair of the Amazon Board and Andy Jassy will turn out to be CEO. Within the Exec Chair function, I intend to focus my energies and a spotlight on new merchandise and early initiatives. Andy is well-known inside the corporate and has been at Amazon virtually so long as I’ve. He might be an excellent chief, and he has my full confidence.
This journey started some 27 years in the past. Amazon was solely an concept, and it had no identify. The query I used to be requested most steadily at the moment was, “What’s the web?” Blessedly, I haven’t needed to clarify that in an extended whereas.
Right now, we make use of 1.3 million gifted, devoted individuals, serve a whole lot of hundreds of thousands of consumers and companies, and are widely known as probably the most profitable corporations on the planet.
How did that occur? Invention. Invention is the basis of our success. We’ve performed loopy issues collectively, after which made them regular. We pioneered buyer critiques, 1-Click on, personalised suggestions, Prime’s insanely-fast delivery, Simply Stroll Out buying, the Local weather Pledge, Kindle, Alexa, market, infrastructure cloud computing, Profession Selection, and way more. For those who get it proper, a number of years after a stunning invention, the brand new factor has turn out to be regular. Folks yawn. And that yawn is the best praise an inventor can obtain.
I don’t know of one other firm with an invention observe file pretty much as good as Amazon’s, and I consider we’re at our most ingenious proper now. I hope you’re as happy with our inventiveness as I’m. I believe try to be.
As Amazon turned massive, we determined to make use of our scale and scope to guide on vital social points. Two high-impact examples: our $15 minimal wage and the Local weather Pledge. In each instances, we staked out management positions after which requested others to come back together with us. In each instances, it’s working. Different massive corporations are coming our manner. I hope you’re happy with that as nicely.
I discover my work significant and enjoyable. I get to work with the neatest, most gifted, most ingenious teammates. When instances have been good, you’ve been humble. When instances have been robust, you’ve been robust and supportive, and we’ve made one another giggle. It’s a pleasure to work on this workforce.
As a lot as I nonetheless faucet dance into the workplace, I’m enthusiastic about this transition. Thousands and thousands of consumers depend upon us for our providers, and greater than 1,000,000 staff depend upon us for his or her livelihoods. Being the CEO of Amazon is a deep duty, and it’s consuming. When you have got a duty like that, it’s arduous to place consideration on anything. As Exec Chair I’ll keep engaged in vital Amazon initiatives but in addition have the time and vitality I must give attention to the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Submit, and my different passions. I’ve by no means had extra vitality, and this isn’t about retiring. I’m tremendous passionate in regards to the influence I believe these organizations can have.
Amazon couldn’t be higher positioned for the long run. We’re firing on all cylinders, simply because the world wants us to. We’ve 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 be taught it.
Hold inventing, and don’t despair when at first the concept appears to be like loopy. Keep in mind to wander. Let curiosity be your compass. It stays Day 1.