Jeff Bezos resigns as CEO on Amazon’s founding day

Amazon CEO Jeff Bezos announced at the annual shareholders’ meeting that he was resigning from Chief Executive Officer on July 5th and is offering positions to current AWS CEO Andy Jassy.

Bezos said he expects to continue to serve as chairman, and to be involved in important Amazon policy decisions and to serve as a chairman who focuses energy and attention on new products and new businesses. When he announced his intention to retire in February, he said that the time to hand over the CEO to Andy Jash will be in the third quarter of 2021. About Bezos’ retirement date of July 5, he said that 27 years ago in 1994, it was the day Amazon was founded and that it was a special day for him.

Regarding the recent big agenda of the acquisition of MGM, MGM said that MGM possesses vast and deep assets loved by people, and that MGM and Amazon studio talents will be able to rebuild and further develop these assets to suit the 21st century.

Meanwhile, CEO Andy Jassie, 18 years ago, participated in the establishment of AWS, Amazon’s cloud computing division in 2003, and is now the most profitable segment on Amazon, raising it to $13.5 billion in sales in the first quarter of 2021. Although it supported the increase in demand under the influence of Corona 19, it also accounts for 12% of Amazon’s quarterly sales.

Andy Jassie is still before Amazon’s inauguration, but preparations are already underway after taking office. The first move was to bring in Jeff Blackburn, who left Amazon in February as a senior executive, to oversee the newly integrated media entertainment division. Blackburn has been participating in the S-team, an elite group directly under Bezos since 2006, and at that time, their roles at Amazon were diverse, including market, business development, and advertising. Also recently, he has been in charge of media businesses such as Prime Video, Amazon Studio, IMDb, and Amazon Music. He returns on June 7. Related information can be found here.