33 days ago • Posted by Jasper Lawler
Bezos passes baton to Jassy as Amazon CEO after blistering 20-year gain in the stock price
Amazon shares now valued at $3380 after an IPO at $18 in 1997.
Amazon.com Inc. Chief Executive Officer Jeff Bezos will step down from his post in the third quarter of 2021 and be replaced by Andy Jassy, the head of the company’s cloud computing unit.Bezos steps down after huge Q4 results. The online retailer reported fourth-quarter sales jumped 44 per cent to US$125.6 billion, beating analysts’ average estimate of US$119.7 billion. Earnings were US$14.09 per share, compared with analyst projections of US$7.34.