Amazon Prepares Investors For The Day Jeff Bezos Is Not CEO

Amazon Prepares Investors For The Day Jeff Bezos Is Not CEO


Amazon CEO Jeff Bezos

Alex Wong | Getty Images

In the section on risk factors of its quarterly report, Amazon changed a word when describing the importance of its founder and CEO.

“We depend on our senior management and other key staff, including Jeffrey P. Bezos, our founder, president, chief executive officer and chairman, ”said the company in its quarterly financial report Friday.

As recently as his Annual Report Three months ago, the word “particularly” preceded the name of Bezos. It’s a subtle but important change as Amazon prepares to hand over the reins to a new CEO for the first time in its 27-year history.

Amazon said in February that Bezos to step down as CEO in the third quarter, but he will retain the post of president. The company named Andy Jassy, responsible for Amazon Web Services, as his successor.

Bezos, the richest person in the world, has long been the only name listed in the key people section of his risk factors. Bezos founded Amazon in 1994 as an online bookseller and has since transformed it into an e-commerce, software and media giant valued at over $ 1.7 trillion.

Amazon stock trades near record high on Friday, one day later quarterly turnover and profits exceeded analysts’ estimates.

LOOK: Amazon trend is here to stay, says Sand Hill’s Vingiello

ApkGeo News

Leave a Reply

Your email address will not be published. Required fields are marked *