Summary List PlacementJeff Bezos may be stepping down as Amazon CEO, but he’s not going anywhere– in fact, he’ll still be involved in significant, “one-way door” choices at the business..
Bezos, 57, announced on Tuesday that in the third quarter of 2021, he’ll move into a new function as executive chairman of Amazon’s board. Andy Jassy, the current CEO of AWS, will take his location..
” Being the CEO of Amazon is a deep duty, and it’s taking in. When you have a responsibility like that, it’s difficult to put attention on anything else,” Bezos composed, including that he’ll be focusing his time on his philanthropy, as well as the two companies he owns: the Washington Post and area company Blue Origin..
Find out more: Andy Jassy will be the next CEO of Amazon. Insiders dish on what it’s like to work for Jeff Bezos’ follower who constructed AWS into a $40 billion company.
However Bezos stated that while he’s turning over everyday management of the company to Jassy, he’ll still be “taken part in essential Amazon initiatives,” a belief Amazon executives echoed during a teleconference following the business’s fourth-quarter incomes report on Tuesday..
” Jeff is not leaving, he is getting a new job,” Brian Olsavsky, Amazon’s primary monetary officer, said during the call..
” He will be involved in numerous big ‘one-way-door’ issues, as we state– ‘one method doors’ meaning the more crucial decisions, things like acquisitions, things like strategies, entering into grocery and other things,” Olsavsky said. “So, Jeff’s always been included with that and that’s where he’ll keep his time focused in his new function.”.
Olsavsky added that Amazon is “really delighted to see both Jeff and Andy get new viewpoints” and that Jassy will have the opportunity to put his imprint on Amazon..
Bezos has actually spoken in the previous about “one-way-door” choices. In his annual letter to shareholders in both 1997 and 2016, Bezos described his approach of distinguishing between 2 type of decisions.
One type, he composed, resembles walking through a standard door: If you’re not delighted with your choice, you can constantly walk back through it. The other type is a one-way door– it’s not reversible, so you have to be extremely cautious about making that kind of choice, he composed..
However Bezos has actually likewise cautioned others against making a lot of “one-way-door” choices.
” Completion result of this is slowness, unthoughtful threat aversion, failure to experiment adequately, and as a result reduced creation,” Bezos composed in1997 “We’ll need to find out how to combat that tendency.” Join the conversation about this story” NOW ENJOY: How waste is handled on the world’s biggest cruise ship