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Amazon founder Jeff Bezos stepped down as CEO on Monday and relinquished the reins as the company grapples with the challenges of a world struggling to emerge from the coronavirus pandemic.
Andy Gacy, who ran Amazon’s cloud computing business, replaced Bezos, a business change Announced in February.
Bezos, Amazon’s largest shareholder with an estimated $ 180 billion stake, will continue to control the company he started in 1995 from his Seattle garage. He will take over as CEO, with plans to focus on new products and initiatives.
Jassy heads a $ 1.7 trillion company that has benefited the most from the pandemic, more than tripling profits in the first quarter of 2021 and generating record revenues as customers increasingly depend on online shopping.
At the same time, Amazon faces a turbulent workforce, just as a rapid economic recovery triggers a labor crisis that sees retailers, manufacturers and other businesses fighting over higher-paid workers and others. benefits.
Society has been defeated Workers try to form unions in an Alabama warehouse earlier this year, but it faces a tougher challenge as the International Brotherhood of Teamsters launches a larger effort to unite Amazon workers.
Bezos also gained attention last month after a report by research news agency ProPublica, citing leaks of IRS documents, said he Pay a “real tax rate” of just 1.1% His fortune increased by $ 127 billion between 2006 and 2018.
in a blog To post Bezos told employees earlier this year that he plans to devote more time to side projects, including his space exploration company Blue Origin, philanthropic initiatives, and overseeing his Washington Post newspaper.
“We did some crazy things together and then we made it natural,” Bezos wrote, explaining Amazon’s list of innovations: Infrastructure Cloud Computing Choose a profession and more.
First, the richest person in the world, according to Forbes, will fulfill their childhood dream of traveling to space. Bezos, 57, is going In space on July 20 When Blue Origin’s New Shepard rocket makes its first flight with a crew, it is joined by her younger brother Mark, an investor and volunteer firefighter.
Bezos, who deserves valued $ 200 billion, will travel more than 60 miles above the Earth’s surface to suborbital space with the rest of the crew.
Bezos founded Amazon as an online bookstore and turned it into a shopping and entertainment empire that is the second-largest private employer in the United States after Walmart. Amazon, which bought film studio MGM in its last major acquisition, now produces films and banks, owns a supermarket chain and plans to send satellites into space to send the internet back to Earth.
Jesse, who has worked at Amazon since 1997, owned a cloud computing company that powers video streaming site Netflix and several other companies, making it one of Amazon’s most profitable businesses.
One of Jassy’s challenges is the growing call for tighter regulation of tech giants. A report from the House Judiciary Committee in October called for this Amazon and others may go their separate waysThis makes it difficult for them to acquire businesses and imposes new rules to protect competition.
And as Bezos steps down, some analysts expect him to continue to play a key role in running Amazon. Neil Saunders, director of research firm GlobalData, expects the entrepreneur to stay involved, especially in helping the company stay innovative.
