By Julia Elder
Jeff Bezos has made the decision to step down from his position as CEO of the booming company Amazon. Bezos founded Amazon in 1994 and created an empire out of his one idea. Amazon’s business has since been increasing with the push for fast online shipping compared to in person shopping. The company has continued to grow as the COVID-19 pandemic has created a high demand for online shopping to reduce the amount of in person interaction. Shares for the company are up 1% as well. So why is Bezos leaving such a successful company at its peak?
Bezos announced his leave as CEO in February of 2021. He is not leaving Amazon all together, he is just stepping down from his position as CEO. He will move down to executive chairman for the board of Amazon. With this position, he will focus more on new initiatives and new products. He will still be heavily involved in the Amazon company but with less responsibility that comes with being CEO.
Andy Jassy will be taking over his role as CEO. Jassy started working with Amazon in 1997, and he will start as his CEO position sometime in 2021. This is a common occurrence with successful company founders to step down from their positions. With less responsibility and time, Jeff Bezos will have more opportunities to focus on his other organizations like the Bezos Earth Fund and Blue Origin (his spaceship company.) This change in roles will shine a light on how Amazon as a company can uphold successes without their founder in the highest position of power in the company.