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Jeff Bezos's retirement

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Jeff Bezos's retirement

In a heartfelt letter Jeff Bezos explained his transition to Executive Chair from the CEO position.
Source: https://www.cnn.com/2021/02/02/business/jeff-be...

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.

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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

16 Comments  |  
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No loots, no deals these days… evil … Issliye ek gaana… wink toungueout
.

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New products mean new copy thefts and idea stealing from poor/broke inventors and more time with his new arm candy.
Still have to admit, he’s one of the most successful guy who became rich all on his own from scratch.
Unlike some others but I won’t name who rode their parents and others coat tails.

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Jeff Bezos to step down as Amazon CEO

Amazon founder Jeff Bezos is to step down as chief executive of the e-commerce giant that he started in his garage nearly 30 years ago.

He will become executive chairman, a move he said would give him “time and energy” to focus on his other ventures.

Bezos, the world’s richest man, will be replaced by Andy Jassy, who currently leads Amazon’s cloud computing business.

The change will take place in the second half of 2021, the company said.

“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,” Mr Bezos said in an letter to Amazon staff on Tuesday.

“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,” he added.

https://news.rediff.com/commentary/2021/feb/03/...

hushed
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Agar koi indian company hota toh uska beta ab CEO hota ..

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rini50 wrote:

New products mean new copy thefts and idea stealing from poor/broke inventors and more time with his new arm candy.
Still have to admit, he’s one of the most successful guy who became rich all on his own from scratch.
Unlike some others but I won’t name who rode their parents and others coat tails.

This is how business works…what do you think! You will create a product and no one will copy that?

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Simbha3 wrote:

This is how business works…what do you think! You will create a product and no one will copy that?

Do you know about sueing and patents?
Smaller companies have gone bankrupt due to allegations.

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rini50 wrote:

Do you know about sueing and patents?
Smaller companies have gone bankrupt due to allegations.

There is always another way….

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desiman wrote:
flushed is mota uncle taking over amajhon rolleyes

Bezo bhai dragged mota bhai in court and this happened, not a coincidence smile

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Simbha3 wrote:

There is always another way….

Yea, check out some patent litigation cases.
One would need very deep pockets and connections to breeze through it.

Missing