The Limited Times

Now you can see non-English news...

Jeff Bezos leaves the reins of Amazon, the technology giant he founded 27 years ago

2021-07-07T09:59:02.487Z


Bezos, considered the richest man on the planet, handed over the general direction to Andy Jassy on Monday, who assumes command of the multimillion-dollar company that faces scrutiny by the Legislature and the unions that seek to unionize his workforce.


Jeff Bezos, founder of Amazon and the richest man in the world, according to Forbes magazine, handed over the post on Monday of the company's general management to Andy Jassy, ​​until recently in charge of Amazon Web Services and an employee of the company for 24 years.

Bezos, 57, announced in February this year that he would step away from the CEO role to pursue his other companies, but that he would not do so entirely by remaining chairman of the tech giant's executive board.

For some experts, choosing Jassy as his successor is the most appropriate, considering that he has been with the company since 1997, when Amazon was dedicated to selling books online.

Andy Jassy (right and front) will take over the reins of Amazon, founded by Jeff Bezos (left) Max Butterworth / NBC News

[Jeff Bezos and 55 other people who became billionaires during the pandemic]

"It's a very wise choice

,

" says

Barbara Kahn with the Wharton School of Business at the University of Pennsylvania.

The company, valued at $ 1.7 billion, has become one of the most powerful in the world alongside the oil giant Saudi Aramco and the technology Apple.

But despite the great moment that Amazon is experiencing, which

tripled its profits in the first quarter of 2021

, and which generated in 2020 more than $ 386,000 million in the middle of the coronavirus pandemic, it faces scrutiny by Washington and the Federal Trade Commission that They seek a review of the antitrust laws of large companies, including the giant created by Bezos.

This June 6, 2019 photo shows Amazon CEO Jeff Bezos at the Amazon convention in Las Vegas.

AP

The House of Representatives introduced in mid-June a legislative package supported by Democrats and Republicans that would force Amazon, Facebook and Google

to reshape their business practices

.

Jassy will also have to deal with the labor unions in several states that try to unionize the workforce that in recent years has grown exponentially, with more than 1.3 million employees worldwide.

To make matters worse, Amazon's new CEO will have to manage the company's explosive online advertising business;

the

online

gaming and social network

Twitch, the Whole Foods supermarkets and the Amazon Prime video streaming platform.

[From a garage to selling millions: this is how Jeff Bezos and Amazon changed the history of commerce]

Jeff Bezos fulfills an 82-year-old woman's dream of traveling to space

July 2, 202101: 01

"Amazon is a complex network of closely linked businesses,"

explains Sunil Gupta, a professor at Harvard Business School, where Jassy received his master's degree in business administration.

"Amazon Studios and its

streaming

service

maintain Prime subscriptions, which helps power their e-commerce business. To manage the complexity of the business, you need a CEO who can manage it all together," added Gupta.

While Jassy begins a new stage with Amazon, the legendary Bezos would dedicate himself to other projects

and "passions", including his aerospace company Blue Origin, which on July 20 will take him into space in a 10-minute flight.

The tycoon also owns

The Washington Post

newspaper

, as well as the Day 1 Fund, the Bezos Earth Fund, among others.

With information from NBC News

Source: telemundo

All news articles on 2021-07-07

You may like

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.