Jeff Bezos to step down as Amazon’s CEO

Karachi: It was announced, on Tuesday, by the company that Jeff Bezos who is the CEO of Amazon, will resign from the chief executive position.

Jeff Bezos, one of the richest persons alive on the planet, will, however, remain executive chair of the company’s fast-growing cloud computing business.

The surprise news came when its recent financial reports were released by Amazon.

During the coronavirus pandemic, few firms have thrived as Amazon, and for the first time in the last three months of the year, the company reported revenue of more than $100bn.

In 1994, Bezos, 57, created Amazon and turned it into one of the world’s largest businesses, raising a fortune of $185bn.

In cloud computing, food, electronics and entertainment, Amazon, which began as an online bookseller, is now a major force and employing more than 1.1 million employees.

“Due to invention, Amazon is what it is,” Bezos said. A few years after a surprising innovation, if you do it right, the new thing becomes natural. Individuals yawn.

The yawn is the best compliment to be received from an inventor. What you’re really doing when you look at our financial statements are the long-run average consequences of the invention.

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