Jeff Bezos to Step Down as Amazon C.E.O., Elevating Andy Jassy

SEATTLE — When Jeff Bezos based an internet bookseller named Amazon in 1994, he stated the query that he was requested most incessantly was “What’s the internet?”

Mr. Bezos answered by constructing Amazon right into a $1.7 trillion behemoth that bought so many various gadgets on-line it grew to become recognized as “the everything store.” In the method, he upended the retail trade, turned Amazon right into a logistics big, and expanded into cloud computing, streaming leisure and synthetic intelligence-powered units. For a time, he was the world’s richest individual.

On Tuesday, Mr. Bezos, 57, stated his run on the prime of the Seattle-based firm was over.

As Amazon reported its newest set of blockbuster monetary outcomes, Mr. Bezos stated he deliberate to hand over the reins this summer time and transition into the function of government chairman. Andy Jassy, 53, the chief government of Amazon’s cloud computing division, might be promoted to run the whole firm. The change might be efficient within the third quarter, which begins in July.

While Mr. Bezos is leaving at a high point for Amazon’s business, the company faces multiple challenges. Amazon is under growing scrutiny from lawmakers and regulators around the world over whether it is unfairly wielding its clout.

In November, European Union regulators brought antitrust charges against Amazon, saying the company broke competition laws by using its size and access to data to harm smaller merchants that rely on the company to reach customers. And earlier on Tuesday, Amazon agreed to pay $62 million to the Federal Trade Commission to settle charges that it withheld tips to delivery drivers between 2016 and 2019.

Amazon has also grappled with growing labor unrest as its work force has ballooned to 1.3 million employees. Last year, some of the company’s warehouse workers expressed discomfort with safety conditions amid the pandemic, forcing Amazon to undertake emergency actions and to hire even more aggressively. More recently, workers at an Amazon fulfillment center in Bessemer, Ala., have been trying to organize a union.

And competition remains stiff. Walmart, the nation’s largest retailer and itself an industry-transforming force, recently introduced a competitor to Amazon Prime called Walmart+. It has made major investments in talent and technology to keep pace with Amazon, buying and a slew of other e-commerce companies.

Amazon’s announcement marks the second major executive transition at the company in the past year. In August, Jeff Wilke, the chief executive of Amazon’s vast consumer business, said he planned to retire in early 2021 after more than two decades with the company. Dave Clark, who ran the fulfillment and logistics operations, was promoted to replace him.

Mr. Jassy has long been a trusted lieutenant to Mr. Bezos. Mr. Jassy, who grew up in New York, joined Amazon in 1997 when it was still a start-up and took on different roles as the company expanded.

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