According to Amazon Founder and CEO, Jeff Bezos, “The three big ideas at Amazon are long-term thinking, customer obsession, and a willingness to invent,”. With that mentality, he pioneered new industrial sectors and changed the ordinance of commerce. Amazon pioneered renting cloud computing infrastructure after bringing ecommerce to Americans.
To a large extent, these are orthogonal domains but he executed and operated them brilliantly. The end result: Amazon’s shares have risen 225,233% since the web retail pioneer went public in 1997!
Amazon now employs 1.1 million around the world. In the United States, it comes behind Walmart as the private sector largest employer of labour. Today, Amazon is a digital conglomerate with tentacles in ecommerce, web cloud services, robotics, logistics and voice recognition. And in these domains, it is one of the top three, if not the category-king.
Jeff Bezos is stepping down for a new boss, to take over this big ship: “I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO. In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives. Andy is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader, and he has my full confidence.”
Amazon founder Jeff Bezos will relinquish his role as the retail behemoth’s chief executive this summer, passing the baton to Andy Jassy, the current chief of Amazon’s hugely profitable cloud computing division. Bezos, who in recent years had already “stepped back from much of the day-to-day business,” will take on the role of executive chairman once Jassy transitions into the CEO role. “Right now I see Amazon at its most inventive ever, making it an optimal time for this transition,” Bezos told employees in a statement reflecting on his 27 years at the helm. (INNews)
For Amazon to have picked Andy Jassy, the Board saw its future via cloud computing, and not necessarily ecommerce. The cloud computing unit of Amazon provides one of the largest margins in the digital conglomerate.
Jeff Bezos announced his departure as CEO of Amazon earlier this week, tapping Andy Jassy as his successor. Jassy, the head of Amazon Web Services and a longstanding member of the S-team — a group of Amazon’s top executives — will step into Bezos’s shoes in the third quarter of this year. Jassy has led AWS since before its launch in 2006 and he has been widely heralded for transforming Amazon into a leader in the cloud infrastructure market. Jassy being tapped as Bezos’s heir highlights “how important the cloud is becoming to our economy.”
Nations rise when pioneering entrepreneurs emerge. America has Bezos, Elon Musk, Bill Gates, etc. Nigeria needs such for the nation to rise.
1. Advance your career with Tekedia Mini-MBA (Sept 13 – Dec 6, 2021): 140 global faculty, online, self-paced, $140 (or N50,000 naira). Click and register here.
2. Click to join Tekedia Capital Syndicate and own a piece of Africa’s finest startups with a minimum of $10,000 investment.3. Register and join me every Saturday at Business Growth Playbooks w/ Ndubuisi Ekekwe (Sept 4 – Oct 23, 2021), Zoom, 4pm WAT; costs N20,000 or $60.