Today Amazon CEO, Jeff Bezos decided he will step down as chief executive of the company he founded 27 years ago.
Bezos will be moving on to the role of executive chair in the third quarter of this year, which starts July 1. Andy Jassy, the chief executive of Amazon Web Services, will take over as CEO of Amazon.
With all that has been going on with GameStop and AMC the announcement made headlines on Wall Street and throughout the business community! Even though the transition does not doesn’t change any of Amazon’s business. Amazon reported a year of record growth today, including a 38 percent increase in net sales from 2019, netting the company $21 billion in income, nearly double from the year before. Investors didn’t seem fazed by the news, either. Amazon’s share price was up about 1.5 percent following the announcement.
