Why has Jeff Bezos decided to step down?

Jeff Bezos India It’s highly surprising to know that the world’s richest person Jeff Bezos (CEO and founder of the world’s largest eCommerce website Amazon has decided to quit his position after this year and the post will be transferred to some other person.

Jeff Bezos India is the founder of Amazon and he has been working continuously at the post of chief executive officer of the company for the last 27 years. He has been the company CEO since its foundation.

The story behind Amazon Success

Amazon was founded in the year 1994 as an online bookseller. That small startup has now turned up in the world’s biggest eCommerce platform and around 1.3 million people are employed through this company. A lot of patience, hard work, and perseverance is required to do anything in life. Amazon is the result of that patience of Mr. Bezos. A company started in 1994 by Mr. Bezoz was not providing any profit to him till 9 years. It recorded its full year of Profit in the year 2003 for the first time.

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It is a clear example of patience and dedication, having a dream of establishing a big company one must have a patience. Now the company’s stock price has escalat with the rocket speed. It’s around 1 lakh 70 thousand % increase since its listing and as a result, Mr. Jeff Bezoz is now not just the richest man on earth as well as he is the first person who create a wealth of 200 billion dollars last year.
So he is the motivation and inspiration for every person who has the dream of having his own business.

So After creating such milestones Mr. Jeff Bezoz has decided to step down from the post of CEO but he will continue to remain the largest stakeholder of Amazon and the executive director.

Who will become the Next Chief Executive Officer of Amazon??

Mr. Bezos has decided to hand over the responsibility and his reins to Mr. Andy Jassy. He will become the next CEO of Amazon. Andy Jassy is the head of Amazon’s cloud computing division and he is also very close to Mr. Bezos. After Bezos, Andy Jassy will become the CEO of Amazon.
Andy Jassy is one of the most trusted lieutenants and he joined Amazon in 2003. He has association with Amazon’s cloud computing service which shows a rapid increase.

Why has Jeff Bezos stepped down?

Everyone is highly shock and keen to know the reasons behind this big decision. Different people have different opinions about that but according to multiple reports, Bezos has been not focusing on day-to-day role management.

They want to focus on some long term projects like rocket venture Blue origin. He is very excited about the transition and he wants to focus on some new initiatives like Day 1 fund -( Philanthropic activity for homeless people), Blue origin ( Space company to make access to space cheaper with reusable launch vehicle), Earth Fund — focusing on environment-related activities. So the legend has not quit yet he wants to try something new and different which can help mankind.

Amazon is highly successful in India. India is the biggest market and it is highly popular so there is a high demand for products in the country. Amazon prime and amazon’s pay balance has also started apart from e-commerce. It has also started a grocery service. Amazon has also opened its biggest campus in Hyderabad and it has almost captured a huge market in the country.

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