Jeff Bezos, founder and unofficial CEO of Amazon, is getting ready to start a new life and has stepped down from the head of the company. As he gets ready to go to space together with his brother and two other unknown people with a new Blue Origin rocket, Andy Jassy takes his place as CEO of Amazon. Jassy started his new role on Monday the 5th of July, and the stock market seems to have had a good reaction.
Amazon’s stocks surge.
Since the beginning of this transition, the shares of the giant company increased by 14%, and, according to Yahoo, Amazon was the most accessed page on their Finance platform. This means that the company’s shares are trading at the top end of the stock market, and its results are better than Apple, Microsoft and Facebook.
Who is Andy Jassy?
After joining Bezos in 1997, Jassy was responsible for creating and managing the Amazon Web Services business (AWS). In a recent interview, Anthony Chukumba, an analyst at Loop Capital, declared that he does not think many things will change inside Amazon. Jassy has a similar leadership style as Bezos, and he knows the insides of the company.
What are the implications?
Although Jeff Bezos is getting ready to become an astronaut, he will still be involved with Amazon, and his influence and legacy will carry on. Chukumba thinks that not many things will change, especially since Jassy and Bezos are so close and share the same work ethic. In addition, Bezos remains the largest shareholder with 10 % of Amazon’s shares. Another reason for Jassy not to make too many changes is the fact that Amazon is doing very well, and the numbers keep
adding up.
