The Strategist

Andy Jassy becomes new Amazon CEO

07/06/2021 - 03:39

Founder of online retailer Amazon, Jeff Bezos, has officially stepped down as CEO of the company, as previously planned.

JD Lasica
JD Lasica
The new CEO and president of the company is Andy Jassy, who has been with Amazon since 1997 and was head of Amazon Web Services before this appointment.

It was no coincidence that Jeff Bezos decided to step down as CEO on 5 July: this day is the 27th anniversary of the corporation's founding. 

"We chose this date because it is dear to me - it is the day Amazon was founded in 1994, exactly 27 years ago," reads a statement from Mr. Bezos, who now serves as executive chairman of Amazon.

US observers note that while Mr. Bezos will step away from operational management of the company, he will retain a very broad mandate that will allow him to focus on strategic development of the company and promising products.