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Why Jeff Bezos stepped down as CEO?

  • The founder of Amazon, Jeff Bezos recently announced that he’s retiring from his position of CEO, giving 27 years of his life as Amazon’s CEO. Bezos will now continue as Amazon’s executive chairman. He is still the biggest shareholder of the company. Bezos said that he’ll hand over the position of CEO to Andy Jassy. He is the head of Amazon’s cash cow cloud computing division and he’s also one of the longest-staying employees at Amazon. Jassy is Bezos’s one of the trusted men and up to some knowledge he used to go to meetings with Bezos. He has also written the AWS original business plans and he ran the division since its launch in 2006. He also elevates the importance of AWS among Amazon’s array of divisions.

 

So, for what reasons Bezos left his position as CEO? In the last shareholders’ letter, he gave the following information:

  • Jeff Bezos addressed head-on which has become a very strong criticism of the company in the past few years, that they don’t take good care of their workers.
  • Bezos defended that they look after their people and the company needs to be better as well. Amazon has invested more than $300 million for the safety projects this year, some of them are stated below.
  • A program that provides improvement of body mechanics, activeness in the workplace.
  • Decreased repetitive motion to save employees from a musculoskeletal disorder.
  • $66 Million in investments created the technology which will help prevent collisions of forklifts and other vehicles.

Multiple reports stated that Bezos started to step back from day to rules in managing the business.
What is he willing to do now?

  • He wants to focus on longer-term projects at the company.
  • Jeff Bezos said, ” As much as I still tap dance in the office, I’m excited about this transition”. Furthermore, he stated, ” As Exec Chairman I will stay engaged in important Amazon initiatives but also have the time and energy. I need to focus on the Day 1 fund, The Bezos Earth Fund, Blue Origin. The Washington Post and my other passions”.
  • He said that he never felt that he is having more energy and the thing isn’t just about getting retired. He’s super passionate about the band he thinks the organization has.
  • An analysis of Bezos’s correspondence from a few years ago shows that Bezos has started to work on something trajectory that’ll save the company from foundering.
  • After stepping down as CEO Bezos has more places to focus on the company and its big problems. He will alter the future of Amazon. In the end, he can also save himself and his company from being one-minded. 

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