3 Reasons why Amazon CEO Jeff Bezos is stepping down

On February 2, 2021, Amazon announced that starting from the third quarter of this year, AWS CEO Andy Jassy will become the new CEO of Amazon replacing current CEO Jeff Bezos.

Amazon CEO news came as a shock to the Technology and Business world because Amazon had never shared any succession plans. Amazon’s new CEO Andy Jassy joined Amazon in 1997; he is the main brain behind Amazon’s Web Services, also known as AWS cloud team.

Three reasons why Amazon CEO Jeff Bezos is stepping down or leaving the Amazon.

  1. Focus on Important and New Amazon Initiative:

According to Jeff Bezos, Being the CEO of Amazon is a profound responsibility. It’s overwhelming when you are responsible for leading such a large organization and operation, and it’s hard to focus on anything else. It is clear from Amazon CEO Jeff Bezos’s letter to his employees that Amazon is performing at peak, and he wants to focus on something new, which he has not shared yet.

  1. Spend more time on philanthropy:

Amazon CEO is not a very popular figure when it comes to philanthropy however According to the Fortune, Jeff Bezos made the single-largest charitable donation of 2020, toward climate change. Jeff has plans to spend more time on philanthropy, including the Bezos Earth Fund and Day 1 Fund that he is actively participating.

  1. To Lead Rocket company Blue Origin and other companies:

In the last few years, Jeff bought and built many companies in across industries such as Aerospace and Media; however, he never focused on these companies grow. According to Jeff Bezos, This is not about retiring from Amazon but focus on companies such as rocket company, Blue Origin, Washington Post and other companies that he is super passionate about the impact these organizations can have.