Annual revenue growth increased 44 percent to $ 125.6 billion. Net income 2 7.2 billion. Although Amazon has delivered great results over the last quarter, this time the numbers have not attracted attention, no matter how respectable they are. Jeff Bezos, founder of the Internet Colossus, has also announced his resignation as managing director.
The change in Amazon’s top management will take place in the third quarter of this year. In less than 27 years, Jeff Bezos will step down as CEO, replacing the CEO, with Andy Jassi in his place. So far, he has headed the cloud division of AWS (Amazon Web Services), which has become one of the pillars of the entire company.
Today, 55-year-old Jeff Bezos founded Amazon in July 1994. At that time, he started selling books online, and today his company is an internet company that sells everything you can think of around the world. A year ago, the value of Amazon crossed one trillion dollars for the first time, and now the market capitalization of US Nazquez already has a market capitalization of one trillion.
However, Bezos did not hand over the management of his company to any green shopper. Andy Jossy joined in 1997, a few years after founding Amazon, and was the birthplace of the aforementioned AWS cloud division, which last year sold more than $ 45 billion in the company’s treasures.
Andy Josie will become Amazon’s new CEO
“I am pleased to announce that this third quarter Amazon CEO will move to the position and Andy Josie will become CEO. As CEO, I would like to focus my energy and focus on new products and startups.” Jeff Bezos wrote in a letter to the staff. He also wants more time for his other activities such as Day 1 Fund, Bezos Earth Fund, Blue Origin Space Project or Diary Washington PostTo whom do you belong.
“Andy is well known within the company and has been on Amazon for as long as I have been. He will be a great leader and I have full confidence in him.” Bezos noted. After all, Andy Jassie has long been talked about as a logical successor to Amazon’s president, and the planned change – albeit unexpectedly announced – only confirms the latest developments on Amazon.
How Recalled For example, we recently saw various signals that analyst Neil Seyford and Jeff Bezos are still holding the position of CEO, but in reality he is no longer a managing director, he is immersed in everything that happens in his company every day. For example, at a hearing in Congress last year, he did not know the specific details because he was unable to answer many questions.
But Amazon’s results were not particularly affected. Over the past quarter, the company significantly surpassed analysts’ expectations of sales of less than $ 120 billion on average. In the end, they were more than five billion. This time it was $ 125.6 billion, up from “$ 87.4 billion” in the previous fourth quarter.
Net profit also rose significantly from $ 3.3 billion to $ 7.2 billion year-on-year. For the full fiscal year 2020, Amazon earned $ 386.1 billion, a 38% increase over 2019. Net income rose to $ 21.3 billion from $ 11.6 billion a year earlier.