Business
As Jeff Bezos stands down as CEO, this is what the future holds for Amazon – The New Daily
Amazon is one of the world’s most valuable companies, its issued stock valued at more than US$1.7 trillion. As founder Jeff Bezos hands the CEO reins to Andy Jassy,…
Jeff Bezos has announced he will stand down as chief executive of Amazon in the third quarter of 2021. The founder of the online retail behemoth will hand the reins to Andy Jassy, who currently leads Amazons cloud computing wing.
The announcement comes after an enormously successful 2020 for Amazon despite (or perhaps because of) the COVID-19 pandemic, with operating cashflow up 72 per cent from the previous year to US$66.1 billion, and net sales increasing 35 per cent to US$386.1 billion.
Amazon…
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