Amazon boss Jeff Bezos to step down as CEO |

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what comes next for the world’s richest man jeff bezos founded amazon in a washington garage in 1994 and built it into a behemoth that has offended the business of buying and selling goods the 57 year old has become one of the most respected and feared business leaders in the world and the richest with the net worth of almost 200 billion dollars in an email to employees bezos wrote that being the ceo of amazon is a deep responsibility and it’s consuming by stepping back he’ll find time to focus on his other projects such as the washington post which he bought in 2013 for 250 million dollars or his rocket company blue origin bezos has invested heavily in this business but is lagging behind rival tech boss elon musk spacex meanwhile his successor andy jassy is set to inherit a business that is increasingly under attack for how it wields its platform to undercut or even drive competitors out of business for how it treats its sprawling network of 1.3 million employees who have complained of brutally long shifts poor pay and unsafe conditions in warehouses as amazon’s influence and profit grow so due to the demand’s terrain and its power it now falls on jassy to answer those calls let’s get more now from chelsea delaney from dw business good to see you again chelsea tell us why is jeff bezos stepping down when his company is doing wonderfully well to some degree this is the best time for jeff bezos to to step down the businesses is very strong especially through the pandemic we’ve seen amazon’s sales its profits really booming so uh the foundation of amazon is really on on solid footing right now so it does make sense for him to to say okay now is the time for me to to hand over the reins but we already have in the past couple of years seeing jeff bezos really seed over the day-to-day control of amazon the the running of the operations to some of his deputies including uh andy jassy so we have seen this uh really developing over the past couple of years but it also has to do with just the evolution of these big tech giants we’ve seen apple we’ve seen microsoft all of these other big tech giants have also seen their founders step down so it’s something that happens has to happen at some point with these companies jeff bezos says that he really wants to to take the time now to focus on uh his passion projects he’s for example uh really invested in in the washington post he has a rocket startup sort of like elon musk so he wants time to to focus on those projects but he says he’s still going to be really staying involved in the bigger questions that as at amazon as the executive chairman you mentioned andy jassy who’s going to be taking over as ceo what do we know about him well he’s been at amazon a long time basically since the beginning he joined in 97 and what he’s really known for is building this cloud business at amazon which has actually become the most profitable part of amazon so it is really big uh and that’s something they want to continue growing people say that he’s a lot like jeff bezos they’re sort of cut from the same cloth they’re very focused on customers they’re they’re very detail-oriented so in some to some degree people do expect a sort of continuation of jeff bezos’s management style now regulators in the eu and the us are hell-bent on on reigning in big tech including amazon uh it won’t be that easy for jesse willit no he’s definitely gonna be facing a lot of challenges uh and actually we’ve already seen at least one congressman in the u.s say you know congratulations andy jesse i have a lot of questions for you so sort of the criticism the scrutiny that jeff bezos was facing about amazon’s practices the way that it uses its power to undercut other retailers as well as the questions about how it treats its workers which we’ve seen really rise up during the pandemic things a lot of questions over uh the conditions and warehouses uh labor activists have been really eyeing amazon as well so all of that scrutiny is definitely going to continue for andy jassy and he likely will have to be testifying in front of congress at some point again soon so uh he’s taking over a business that is growing but it’s certainly one of the most challenging times in amazon’s history and there is there are a lot of threats to even break amazon up so it’s going to be a difficult road for him

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