"So Jeff is really not going anywhere, it's more of a restructuring of who's doing what."įor Jassy, moving up to the CEO role means taking on some of Amazon's most pressing challenges. "Jeff will continue to stay not only very involved, but have his fingerprints on a lot of areas of product development and innovation," Amazon Chief Financial Officer Brian Olsavsky told reporters on Tuesday. AWS, which sells cloud computing services to other companies, also experienced surging demand as many people and businesses realigned for remote work. He did take a more hands-on approach during the early months of the pandemic last year, however, as demand for deliveries soared but also tested Amazon's ability to keep up. In recent years, Bezos had already largely stepped back from day-to-day role managing Amazon's business, focusing on longer-term projects at the company and his outside projects including rocket company Blue Origin. AWS alone raked in $3.6 billion in operating profit - half of the company's total. On Tuesday, Amazon reported yet another record-setting quarter, with sales during the holiday season topping $125 billion. I'm super passionate about the impact I think these organizations can have."Ĭloud computing is Amazon's biggest profit center, even as the company continues to profit tremendously from pandemic-fueled online shopping. "I've never had more energy, and this isn't about retiring. "As Exec Chair I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions," he wrote. He said he planned to spend more time focused on philanthropy and other outside ventures. "As much as I still tap dance into the office, I'm excited about this transition," Bezos said in a letter to employees, announcing the end of his 27-year run.
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