ON FEBRUARY 2ND Amazon, America’s third-most-valuable public company, revealed its best-ever quarter. Moved by the covid-19 pandemic, which has restricted consumers to their homes, the firm reported that quarterly sales had actually risen 44%year on year, and exceeded $100 bn for the first time. It was a barnstorming efficiency. It was not the main story. On the very same day the company announced that Jeff Bezos, its employer and founder, will step down as president this summertime after almost 3 decades in charge.
Mr Bezos will not leave the company. He prepares to boot himself upstairs to become executive chairman. That function, he said, will allow him to stay “taken part in important Amazon efforts”, but also give him more time to concentrate on other interests, significantly area travel, combating environment modification and the Washington Post, a paper he bought in2013 His replacement as CEO will be Andy Jassy, a long-serving Amazon worker who built and runs Amazon Web Provider (AWS), the company’s extremely profitable cloud-computing division.
Bernstein, a broker, described Mr Bezos as the “biggest of all time”. In 2019 Amazon provided 3 …
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