Amazon Founder Bezos will Step Down as CEO

Amazon founder of the American online storewill leave the position of CEO of the company this year. He will be replaced by Andy Jassy, who now manages Amazon’s cloud activities. Bezos will become the executive chairman of the company’s board of directors. Amazon also announced on Tuesday that its quarterly sales exceeded $ 100 billion for the first time.

Bezos founded Amazon in 1994 and eventually became the world’s largest online store. Today, Bezos is the second richest man in the world after Elon Musk, according to the Bloomberg billionaire index with assets worth $ 188 billion. For a long time, however, he led the rankings himself.

The replacement for the post of Executive Director should take place during the third quarter. “As executive chairman, I will continue to be involved in important Amazon activities,” said Bezos, 57. He added that at the same time he would gain more time and energy for his other interests.

They made money on the covid
Amazon announced on Tuesday that it had increased sales by 44 percent year-over-year to $ 125.6 billion in the fourth quarter. The company more than doubled its quarterly net profit to $ 7.2 billion. It earned a record $ 21.3 billion last year, the DPA reported.

Quarterly sales exceeded analysts’ estimates of $ 119.7 billion, according to a Refinitiv survey. Amazon has recently benefited from strong growth in consumer interest in online shopping as a result of the covidu-19 pandemic.

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