Jeff Bezos, the founder of Amazon.com Inc., stood down as CEO on Monday, giving over the keys as the business navigates the difficulties of a globe struggling to recover from the COVID-19 epidemic.
Andy Jassy, who headed Amazon’s cloud computing division, took over for Bezos, a move disclosed by the firm in February.
Bezos, Amazon’s largest stakeholder with an estimated $180 billion investment, will continue to wield power over the business he founded in his Seattle garage in 1995.
He will take over as executive chair, with a focus on new goods and projects.
Jassy takes over a $1.7 trillion business that profited tremendously from the crisis, more than doubling its earnings in the first quarter of 2021 and generating record sales as consumers became more reliant on internet purchasing.
At the same time, Amazon is facing labor activity from a disgruntled workforce, as a fast economic recovery creates a labor shortage, forcing retailers, manufacturers, and other businesses to compete for employees with better pay and other perks.
In April, the business rejected a unionization drive by employees at an Alabama warehouse, but it now confronts a more serious threat as the International Brotherhood of Teamsters begins a wider campaign to unionize Amazon workers.
Bezos said in a blog post to workers this year that he intended to spend more time to side projects such as his space exploration firm Blue Origin, charitable efforts, and managing the Washington Post, which he owns.
First and foremost, according to Forbes, the world’s wealthiest man will realize his boyhood ambition of going to space. Bezos, 57, will go into space with his younger brother Mark, an investor and volunteer fireman, on July 20 when Blue Origin conducts its first crewed mission.
Bezos started Amazon as an online bookshop and grew it into a retail and entertainment behemoth that is now the second-largest private employer in the United States, behind only Walmart.
Amazon, which is purchasing Metro-Goldwyn-Mayer in its latest big purchase, now manufactures movies and couches, owns a supermarket chain, and intends to launch satellites into space to provide internet access to Earth.
Jassy, who has been with Amazon since 1997, oversaw the cloud-computing company that drives Netflix and many other firms, making it one of Amazon’s most lucrative.
Growing demands for stricter regulation of digital behemoths are among Jassy’s difficulties. In October, the House Judiciary Committee issued a report calling for Amazon and others to be broken up, making it more difficult for them to acquire businesses and imposing additional regulations to protect competition.
Amazon’s incidents in L.A.
It’s difficult not to hear random situations with Amazon delivery services and its personnel, just recently authorities say the driver of an Amazon delivery truck was detained on suspicion of DUI after two hit-and-run accidents in a Southern California neighborhood that knocked down a light post and smashed up a parked vehicle.
According to authorities, Simi Valley police arrived Thursday to complaints of a municipal light pole fallen over a home walkway.
According to the Ventura County Star, officers investigated allegations that the pole was hit by an Amazon vehicle that fled the scene.
A short time later, the van returned to the area, collided with a parked vehicle, and fled the scene, according to authorities. According to police photographs, the collision pushed the vehicle partly up onto the sidewalk.
Officers noticed the vehicle and detained the driver, a 23-year-old Woodland Hills resident.
According to police Cmdr. Steve Shorts, the man wore an Amazon shirt, although it was unclear if he was a contract or corporate employee. According to Shorts, the van was leased through the vehicle-sharing business Fluid Truck.
According to the agency, the driver, who was discovered to be in possession of drug paraphernalia, was detained on charges of hit-and-run and DUI.
There were no reported injuries.