Amazon boss Bezos is Chairman of the Board

Cloud chief Andy Jassy takes over Amazon boss Bezos is Chairman of the Board

Around 27 years ago, Jeff Bezos founded in a Garage in Seattle, an Online book store. From his fascination for the Internet is one of the most valuable companies in the world: Amazon was born. Now the largest online retailer introduces the world to the change in its top management Board.

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Jeff Bezos is the role chairmanship of the Amazon to the head of the Cloud business, Andy Jassy,.
Jeff Bezos is the role chairmanship of the Amazon to the head of the Cloud business, Andy Jassy,.

(Image: Amazon)

Amazon boss Jeff Bezos is to give up the presidency in the third quarter of 2021 to Andy Jassy, the head of the booming Cloud business. An Era ends, however, Bezos wants to continue to compete. Amazon on Tuesday after U.S. market close of the published annual report for 2020 has been given the personnel on the side.

Bezos is likely to exercise as Executive Chairman of the Board of Directors, is the parent of the management Board, in the future much of an impact at Amazon. In a Memo to the employees of the 57-Year-old said that his decision to say goodbye to in retirement. “I’ve never had more energy,” said Bezos. In his future role as Chairman he wanted to focus his energy and attention on new products and initiatives. In addition, he gains more time for other projects, such as its foundations, his space travel company Blue Origin or the newspaper “The Washington Post” in his private possession.

Where mixes with Amazon?

5. July 1994, Jeff and his then-wife, MacKenzie Bezos founded in Bellevue near Seattle, an Online bookstore. The company was originally called Cadabra, but was renamed rapidly in Amazon. According to Bezos biography “Of all the seller is” of 2013 sound Cadabra too much like cadaver. What began with the books became the largest Internet store in the world the time of purchase. Today, Amazon is much more than that, and with its Cloud Services, which provide about Start-ups, IT applications, and storage space on the network, countless companies on the Run. With Whole Foods, Amazon also operates a U.S. supermarket chain.

Still not enough: In the Streaming business, Amazon is trying with its Prime service, market leader Netflix to make a competition; with the construction of a logistics delivery, the group sets package carrier such as UPS, Fedex, and DHL under pressure. And nobody knows what industries Amazon is next up. Bezos made the success story of the iconic of his company as a major shareholder in the stone Kingdom. With an estimated fortune of 188 billion dollars (155,4 billion euros), he is the “Bloomberg Billionaires Index,” according to currently the second wealthiest person in the world behind Tesla-Chef Elon Musk.

Amazon on the stock exchange

On the stock of the rapidly expanding Bezos-group due to chronic red Numbers, however, for a long time in a difficult position. However, since Bezos delivers reliable gains, he has become the darling of Wall Street. In September 2018, it managed Amazon as the second Aktiengesellschaft after the iPhone giant Apple to hit the magic mark of a trillion dollars in stock market value. Since then, it went uphill strong, the market capitalization of Amazon, was most recently at a fraction of the $ 1.7 trillion. The news of Bezos’ resignation could not come as a shock to investors on Tuesday evening, the stock was up in after-hours trading in the Plus.

The business also ran in the final quarter of shiny: In the three months to the end of December, Amazon cracked in sales thanks to the order boom in the Corona-crisis, and a strong Christmas shopping season for the first time, the mark of 100 billion dollars. Compared to the prior year period, revenues increased by 44% to 125.6 billion dollars. The net profit doubled Amazon to $ 7.2 billion (€6.0 bn), significantly more than. In fiscal year 2020, the group earned 21.3 billion dollars, an increase of 84 percent and a new brand.

The biggest profit drivers: the Cloud-business

Amazon’s biggest profit driver, meanwhile, e-Commerce, but the Cloud business with IT Services and storage space on the Internet. So it is only logical that with Andy Jassy, the head of this division, to the future chief Executive, was promoted. Amazon’s Cloud platform, AWS, which is used by many companies and Apps, increased quarterly sales by 28 percent to 12.7 billion dollars. Despite the strong growth, the business remained slightly below expectations. The operating result increased by 37 percent to $ 3.6 billion, to recognize what is clear, what is an attractive profit bringer of Amazon’s Cloud-flagship continues to be.

Criticism

Due to his success with Amazon has not made Bezos is Far from just friends. The group is accused of using its large market power and to destroy his low-priced retail. Also because of the controversial working conditions, there is often criticism of Amazon. The most powerful enemy of Bezos was sitting, but, until recently, still in the White house: Ex-US President Donald Trump and him dressing a fierce duration of the feud. The main reason was, however, less Business, but especially trump’s aversion to the “Washington Post” reported frequently critical of him.

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