A man who started a trillion-dollar company out of his garage with about $250,000 is turning the controls over to someone else.
Jeff Bezos, the current CEO of Amazon, has announced that he is going to step down and transition to a new role during the third quarter of this year.
Time to Transition
Bezos broke the news this week and to say people were stunned is more than an understatement.
The Amazon CEO stated that he will be turning over operational control of the company to Andy Jassy.
Bezos will then transition to a new role as Executive Chair of the company.
On making the transition, Bezos stated, “Amazon is what it is because of invention. We do crazy things together and then make them normal.”
He continued, “If you do it right, a few years after a surprising invention, the new thing has become normal.
“People yawn. That yawn is the greatest compliment an inventor can receive.
“When you look at our financial results, what you’re actually seeing are the long-run cumulative results of invention.
“Right now, I see Amazon at its most inventive ever, making it an optimal time for this transition.”
I would not be surprised if the negative headlines that Bezos has been getting lately also played a part in this decision.
We saw the impact negative headlines had on Papa John’s, so perhaps Bezos was thinking ahead and trying to save the company from a downward spiral.
You can read more about this report on Breitbart.
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