Jeff Bezos will no longer be CEO of Amazon as of later this year – TechCrunch

Amazon founder and current CEO Jeff Bezos will take over as executive chairman of the company in the third quarter of this year, with current AWS CEO Andy Jessie playing the top executive role at the commerce company. Amazon News announced With its earnings results on Tuesday.

Amazon initially rose after hours as the market digested both the company’s earnings and its CEO news. The company beat on both earnings and revenue per share. This makes it difficult to ignore the market reaction to its hectic set of announcements. Update: Amazon shares have now sunk into negative territory as investors have had more time to parse the total collection of company announcements.

Amazon trodden on Earnings-per-share and revenue expectations in Q4 2020. Therefore, any investor concerned with Bezos’ exit from the CEO’s chair was given some measures of performance-based modification. Amazon quarter It was the first Bringing in $ 125.6 billion in revenue, against an estimated $ 119.7 billion, to break the $ 100 billion mark. And, the company’s $ 14.09 per share in earnings was almost double that of $ 7.23.

Jessie has been identified as a possible successor to Bezos since the first major Amazon Web Services (AWS) is currently getting success As a leader in the cloud computing space. AWS reported a 28% increase in its income this quarter, down from the 34% growth a year earlier. AWS net revenue increased from $ 9.95 during the fourth quarter of 2020 to $ 12.74 billion in Q4 the year before. Operating income at AWS increased from $ 2.6 billion in Q4 2019 to $ 3.56 billion in the most recent quarter.

Microsoft’s Azure business in particular Increased by 50% In its most recent earnings period.

Bezos sent an email to Amazon employees, which the company also released Publicly released on his blog Following the announcement on Tuesday. In Missile, he states that as long as he “keeps searching.” [his] Make meaningful and fun work, “he wants his” Day 1 Fund, Bezos Earth Fund, Blue Origin, The Washington Post, and proper time and attention. [his] Other passions. “

Bezos’ space company Blue Origin has achieved a lot to date, and regularly flies to suburban missions with its New Shepier launch vehicle. This coming year will be a busy one for the space company, as it should start flying people over New Shepard for the first time.

In addition to its own manned spacecraft targets, Blue Origin is currently developing a manned lunar landing system for NASA in partnership with other space industry leaders. It is also working on another launch vehicle, the New Glen, which will be a heavy-lift class rocket capable of carrying payloads into orbit. So there’s a lot going on there, too. Bezos has previously referred to Blue Origin as “the most important work he is doing” because of the scale of its potential impact on humanity’s future.