Home News Amazon may be preparing for company’s first CEO handover

Amazon may be preparing for company’s first CEO handover

by Ashish

Amazon revised a word in the risk factor column of the quarterly report to adjust the description of the importance of the company’s founder and CEO.

Amazon wrote in its quarterly report released on Friday: “We rely on senior management and other key personnel, including Jeffrey P. Bezos, our founder, president, CEO, and director.”

In its annual report three months ago, Amazon also added the word “particularly” before Bezos’s name. Although this wording adjustment is simple, it is also very important, because it will usher in a CEO handover for the first time in the company’s 27-year history.

Join us on Telegram

Amazon said in February that Bezos will step down as CEO in the third quarter, but he will remain as chairman. Andy Jassy, ​​head of Amazon Web Services, will become Bezos’ successor.

Bezos is the richest man in the world today and the only person Amazon has mentioned in risk factors for a long time. He founded Amazon in 1994 as an online bookstore and then transformed into an e-commerce, software, and media giant with a valuation of more than US$1.7 trillion.

Amazon’s stock price approached a record high in intraday trading on Friday. The day before, the company’s quarterly revenue and earnings exceeded analyst expectations.

Related News