- Push-out Score determined
- After almost 25 years in the position
- Andy Jassy taking over
- Bezos will remain as Executive Chair at Amazon
- Bezos said 112 words
(exechange) — Seattle, Washington, February 2, 2021 — Jeff Bezos, chief executive of Amazon, leaves his position. As announced by Amazon.com Inc. in a news release and in a regulatory filing published on Tuesday, February 2, 2021, Jeffrey P. (Jeff) Bezos leaves his post as chief executive officer of the web retailer and internet conglomerate after almost 25 years in the role, effective in the third quarter of 2021.
It is the end of an era.
Jeff Bezos’s duties as CEO will be taken over by Andrew R. (Andy) Jassy, currently CEO Web Services of Amazon.com Inc.
“An optimal time for this transition”
Jeff Bezos’s departure from the CEO post is explained as follows. Bezos said: “Right now I see Amazon at its most inventive ever, making it an optimal time for this transition.”
Bezos will remain as Executive Chair at Amazon
“Amazon is … announcing today that Jeff Bezos will transition to the role of Executive Chair in the third quarter of 2021 and Andy Jassy will become Chief Executive Officer at that time,” Amazon said.
Amazon further said: “Jeffrey P. Bezos plans to transition to the role of Executive Chair in the third quarter of 2021 and continue to serve as a director of Amazon.com, Inc.”
Share price increase since February 2020
The announcement follows an increase in Amazon.com Inc.’s share price of 67% since February 2020.
In the position of CEO since 1996
Jeff Bezos became CEO of the Company in 1996.
Bezos has been Chairman of the Board since founding the Company in 1994 and Chief Executive Officer since May 1996.
Bezos served as President from founding until June 1999 and again from October 2000 to the present.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Jeff Bezos’s move on a scale of 0 to 10.
exechange reached out to Amazon and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 6.2021 ($).