The announcement on Tuesday about Jeff Bezos all set to hand over the CEO job came as quite the shocker. However, the report in The Hindu says that despite stepping down, the Amazon founder will continue to identify new frontiers for the e-commerce company. As for his successor, he will ensure efforts to continue enhance the power of the e-commerce website.
Bezos to continue expanding horizons for the company with new role
As rightly said in the stated report, Bezos has never stopped at the existing success of the company and continues to acquire more. In the last year itself, Amazon bough a company that develops self-driving taxis, launched an online pharmacy selling inhalers and insulin, and also received approval to put 3200 satellites into space.
Andy Jassy, who has been an Amazon executive for a long time will take over the reins as the CEO while Bezos will become the Executive Chairman. The report stated how he is likely to have a say in the ongoings of the e-commerce platform as he has been around for a long time. As for Brian Olsavsky, the chief financial officer at Amazon, he feels that this is only restructuring the duties i.e. who does what.
Along with the announcement about Jeff Bezos handing over the role of the CEO, the company also announced its earnings and the investors seemed to have more focus on that than the news about the shift.
Bezos wants to work on new ideas and initiatives
Bezos went on to speak about what him holding the position of the CEO meant and how that has kept him from bringing new ideas and starting new initiatives in order to bring further growth to the company. He also mentioned in the blog post that he wishes to direct his attention towards doing more of that also work with his newspaper, The Washington Post, his company Blue Origin and more.
Mr. Bezos wrote, “Being the CEO of Amazon is a deep responsibility, and it’s consuming. When you have a responsibility like that, it’s hard to put attention on anything else.”
Well, it is safe to say that Bezos will now get rid of responsibilities that were binding him, and he will now be free to do more of what he knows will enable growth for the company. Meanwhile, Jassy will take over those responsibilities and both of them can do the needful going forward.
Jassy may have to deal with antitrust issues
Amid an increasing market for online shopping, among other things, Amazon has also come under scrutiny and whether they will face a similar action as faced by google and Facebook in lieu of lawsuits from the U.S government is to be watched out for.
Meanwhile, antitrust case has been filed by European regulators and the company has been accused of data mining of merchants so as to get an advantage. This means that once Jassy comes in power, he will be facing the issue himself while he tries to cement his newly found position in the company.
Gartner analyst Ed Anderson said, “Amazon’s size makes some industries uncomfortable, some governments uncomfortable and Andy Jassy will have to deal with the consequences. That will be some of the new era of his leadership.”
Among other issues that possess a problem for Jassy apart from the lawsuits regarding antitrust issues are the critical conditions that the employees at Amazon are believed to be working. There is a lot that has been talked about the company mistreating their employees and paying them less, especially those involved in distribution and at the ground level along with improper working conditions.
As a new chapter begins in the book of Amazon as the company with Andy Jassy stepping up as CEO, this could also be the time to right the wrongs. This is something that Robert Weissman, president of Public Citizen, agrees to as well and he believes they could start by increasing the wages and providing better working conditions. As per the report, analysts also believe that Bezos has picked someone who is capable of taking up the challenge. As for Jassy, he has a huge contribution in the web services division as well and it enabled the company to cut prices on its online shopping operations. So all in all, he has been working constantly towards enabling the company to grow not just in its works, but also financially.