San Francisco. Amazon was founded by Jeff Bezos exactly 24 years ago on July 5, 1994. Andy Jassy, a former AWS executive, has taken over as Amazon’s chief executive.
The Amazon investor relations website now lists Jassy as CEO and President of Amazon.com, in addition to being on the board.
Jassy founded and led Amazon Web Services (AWS) since its inception and served as its CEO until July 2021.
The e-commerce giant announced in May that Jassy had been selected to take over as CEO on July 5.
The outgoing CEO said that he chose the date because July 5 is sentimental one for him. “It’s the date that Amazon was incorporated in 1994, exactly 27 years ago,” he had said.
Jassy joined Amazon in 1997 and, before founding AWS, held various leadership roles across the corporate , including both business-to-business and business-to-consumer.
It is estimated that about half the company’s revenue comes from AWS.
AWS, which is that the Cloud arm of Amazon, logged a $54 billion annualised run rate — a 32 per cent year-over-year growth — in March quarter this year.
Bezos is additionally the founding father of aerospace company Blue Origin, which is functioning to lower the value and increase the security of spaceflight, and he’s owner of the Washington Post. He has launched two philanthropic organisations.
Bezos will fly to the sting of space along side brother onboard his company Blue Origin’s tourism rocket — New Shepard — on July 20.
In a video uploaded on his Instagram profile, Bezos is heard saying that he and his brother Mark are going to be launching into space on July 20 aboard a rocket built by his space company Blue Origin.
Bezos, who built a web bookstore into a $1.7 trillion technology empire reaching into space, announced in February he are going to be stepping down as CEO at the apex of his career to specialise in innovations.