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In email to Amazon employees, Bezos details reasons for stepping down as CEO

“Invention is the root of our success," Bezos told employees

By Thomas Barrabi



Amazon founder Jeff Bezos, who revealed plans Tuesday to step down as CEO of the e-commerce giant later in 2021, explained the reasoning behind his decision in an email to company employees.

In the lengthy message, Bezos said his transition to the role of executive chairman “isn’t about retiring.” While the billionaire plans to maintain an active role in Amazon’s leadership, he cited a desire to spend more time working on his other projects.

“Being the CEO of Amazon is a deep responsibility, and it’s consuming,” Bezos wrote. “When you have a responsibility like that, it’s hard to put attention on anything else. As Exec Chair 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.”

Amazon earnings beat expectations for Q4; Bezos to step down as CEO
Reaction from Gary Kaltbaum, Business Insider columnist Adam Lashinsky and Barron's reporter Carleton English.


Bezos will officially step down as CEO in the third quarter of Amazon’s fiscal year 2021. As executive chairman, Bezos said he intends to “focus my energies and attention on new products and early initiatives.”

Andy Jassy, a longtime Amazon executive who currently heads its lucrative web services division, will replace Bezos as CEO.

“Andy is well known inside the company and has been at Amazon almost as long as I have,” Bezos wrote. “He will be an outstanding leader, and he has my full confidence.”


Amazon announced its transition plan alongside fourth-quarter earnings results. The company generated $125.6 billion in quarterly revenue, marking the first time its results surpassed the $100 billion sales threshold in a single quarter.

Bezos touted Amazon’s record of innovation since its founding in 1994, telling employees that “invention is the root of our success.”

I don’t know of another company with an invention track record as good as Amazon’s, and I believe we are at our most inventive right now,” Bezos said. “I hope you are as proud of our inventiveness as I am. I think you should be.”

Bezos’ full email to Amazon employees can be viewed below or by clicking here.

Fellow Amazonians:

I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO. In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives. Andy is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader, and he has my full confidence.

This journey began some 27 years ago. Amazon was only an idea, and it had no name. The question I was asked most frequently at that time was, “What’s the internet?” Blessedly, I haven’t had to explain that in a long while.

Today, we employ 1.3 million talented, dedicated people, serve hundreds of millions of customers and businesses, and are widely recognized as one of the most successful companies in the world.

How did that happen? Invention. Invention is the root of our success. We’ve done crazy things together, and then made them normal. We pioneered customer reviews, 1-Click, personalized recommendations, Prime’s insanely-fast shipping, Just Walk Out shopping, the Climate Pledge, Kindle, Alexa, marketplace, infrastructure cloud computing, Career Choice, and much more. If you get it right, a few years after a surprising invention, the new thing has become normal. People yawn. And that yawn is the greatest compliment an inventor can receive.

I don’t know of another company with an invention track record as good as Amazon’s, and I believe we are at our most inventive right now. I hope you are as proud of our inventiveness as I am. I think you should be.

As Amazon became large, we decided to use our scale and scope to lead on important social issues. Two high-impact examples: our $15 minimum wage and the Climate Pledge. In both cases, we staked out leadership positions and then asked others to come along with us. In both cases, it’s working. Other large companies are coming our way. I hope you’re proud of that as well.

I find my work meaningful and fun. I get to work with the smartest, most talented, most ingenious teammates. When times have been good, you’ve been humble. When times have been tough, you’ve been strong and supportive, and we’ve made each other laugh. It is a joy to work on this team.

As much as I still tap dance into the office, I’m excited about this transition. Millions of customers depend on us for our services, and more than a million employees depend on us for their livelihoods. Being the CEO of Amazon is a deep responsibility, and it’s consuming. When you have a responsibility like that, it’s hard to put attention on anything else. As Exec Chair 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. I’ve never had more energy, and this isn’t about retiring. I’m super passionate about the impact I think these organizations can have.

Amazon couldn’t be better positioned for the future. We are firing on all cylinders, just as the world needs us to. We have things in the pipeline that will continue to astonish. We serve individuals and enterprises, and we’ve pioneered two complete industries and a whole new class of devices. We are leaders in areas as varied as machine learning and logistics, and if an Amazonian’s idea requires yet another new institutional skill, we’re flexible enough and patient enough to learn it.

Keep inventing, and don’t despair when at first the idea looks crazy. Remember to wander. Let curiosity be your compass. It remains Day 1.

Jeff

Hope he trips while stepping down.

Good riddance, but nothing will change. He holds us by the balls!!

Couldn’t give two shits. I don’t use them anymore.

quote:

Bezos said he intends to “focus my energies and attention on new products and early initiatives.”

Translation, somebody has to run the country.

I hope he goes broke and starves to death.

I can see Bezos focusing more of his efforts on Blue Origin and getting the new administration and the FAA onto 'his side'. SpaceX has been lapping BlueOrigin; from high-profile launches to their Starlink satellite constellation nearly fully developed, Musk's operation is the darling of the private space enterprise scene. Whereas Amazon's Kuiper System has yet to get off the ground, a number rocket engines are behind schedule, along with missing out on recent DoD launch contracts. Musk has also thumbed his nose at the Dems, leaning more libertarian with his socio-political commentary, while challenging the Dem narrative that they're 'the party of technology and science'. Bezos isn't going away any time soon.

I wouldn't be surprised if he starts some kind of big 'green' company or initiative to get in even better with the leftists.

Look for Amazon service and support to go down the tubes in the near future.

Hey Jeff... Curly Bill Broscius says "well, bye."

quote:

Amazon's Kuiper System has yet to get off the ground, a number rocket engines are behind schedule

It's tough to design a working, environmentally friendly, all electric rocket.

^^^

quote:

Originally posted by a1abdj:

quote:

Amazon's Kuiper System has yet to get off the ground, a number rocket engines are behind schedule

It's tough to design a working, environmentally friendly, all electric rocket.

How far in orbit will it go between charging stations??

making plans for the 2022 elections?

quote:

Originally posted by az4783054:
making plans for the 2022 elections?

Especially since WA is about to pass a Billioniares tax

He is beyond money.
Now its all about power.
President of the USA, most powerful man on the planet.

I would agree with that sentiment up until the 20th

Now the most powerful man in the planet is the President of China.

From the Babylon Bee (satire):

SEATTLE, WA—Amazon CEO Jeff Bezos has announced he will be stepping down from the company he founded to spend more time focusing on his lifelong dream of being a Bond Villain.

"Running Amazon with my army of warehouse minions has been fun," he said, "but it has really taken me away from some of my lifelong passions-- like building superweapons in space to dry up the world's oceans, or creating a killer virus so I can make trillions selling the cure, or having a shark tank in my living room!"

Bezos will be spending the next decade constructing an undersea lair where he will spend most of his retirement. He has warned MI6 and the CIA to "stay out of his business."

"Don't anyone try to stop me! You will fail-- even you, 007. HEeee hee hee hee h--" Bezos stopped and cleared his throat. "Still working on the evil laugh, sorry."

quote:

Originally posted by snwghst:

quote:

Originally posted by az4783054:
making plans for the 2022 elections?

Especially since WA is about to pass a Billioniares tax

Who would that hit the hardest?

Maybe move to CA, well, wait, er, uh . . .

The Washington Post, eh? I guess his next hill to climb is to outdo Katherine Graham. After all, in his mind he's already "taken out a President" just like she "took out" Richard Nixon.