Imagine courtesy: variety.com
On July 5, Amazon founder Jeff Bezos will pass over operational authority to his successor, as the e-commerce behemoth stretches its muscles in television and the cloud.
Andy Jassy, who oversees Amazon Web Services, the profitable cloud computing segment at the Seattle-based corporation, will succeed Bezos as CEO. Bezos will serve as the company’s executive chairman. At an annual shareholders meeting, Bezos disclosed his departure date, stating it has “sentimental” meaning to him because it will be the 27th anniversary of Amazon becoming a business.
Bezos informed investors that Jassy is well-known at Amazon, having been there for nearly as long as he has.
Amazon has achieved considerable influence in online shopping as well as cloud computing, where it competes with Google and Microsoft, prompting the executive move.
As the epidemic has accelerated a trend of using the internet for business, leisure, and education, Amazon has been among the digital companies that have thrived.
Amazon struck a deal to buy the venerable MGM studios for $8.45 billion on Wednesday, gaining a massive film library to bolster its streaming ambitions.
Amazon is making a push into entertainment as more people turn to streaming video, and the move comes as the company experiences rapid growth in online shopping and cloud computing.
The transaction, on the other hand, may intensify attention for Amazon, one of the big digital companies that has amassed extraordinary economic power in recent years and is in the attention of antitrust regulators around the world.