Jeff Bezos will leave planet earth on 20th as he flies to space by Blue Origin. Before he went, he resigned as a CEO and handed over the power to Jessy, one of the executives. Jessy has committed his life to the company for almost 24 years. He is the founder of Amazon Web Services. A report by cnbc.
Amazon is the top-selling e-commerce platform in the world. Recently, it becomes the first company to hit the trillion mark. In addition, the company has made Jeff Bezos the first businessman to meet a net worth of $200 billion. Amazon is competing among other trillion companies like Saudi Aramco and Apple.
Bezos has stayed in power since he founded Amazon in 1994 as a book-selling store. It has almost 1.3 million workers across the world. But as the company makes more profit and becomes popular, the antitrust issues continue to pile. So the upcoming CEO must be competent to tackle all these challenges.
Professor of Marketing, Mr. KahBezos n Barbara said the company must find a good succession plan for its longevity. Jassy took over from Bezos on Monday. He is expected to fight some regulatory cases from the Federal over some issues. Before leaving, Bezos made sure he had a solid team to support Jassy. Last year, Amazon lost $19 million over antitrust cases. Almost all the big tech companies face such challenges.
A zoom continuous to grow wide; hence Jassy will have to be smart to put together all the new branches. Workers should form a union that guides them. Amazon carries almost 40% of US eCommerce market sales yearly. The company also earns more through advertisement as minor company meres.
The web service company grows daily as its plan to offer affordable facilities compared to the rest. Recently, it launched AMzon Prime video where people can stream movies which now rivals Netflix. In London, they opened Amazon physical Salon.
Following the last judiciary meeting, six antitrust bills were discussed. That was to track and control how the big tech companies were using their monopolistic power. Such statements include restrictions on tech companies from competing with minor sellers. For example, this will mean Amazon can’t sell their phones and laptop chargers. Also, Apple will be affected by this because it will prevent them from selling their apps on App Store.
Jassy has worked with government agencies while chairing AMzon Web Service. So he has to come up with a strong team and other companies to fight against their freedom. Gupta said antitrust issues had consumed most times of CEOs; hence they cannot be innovative anymore.
Most popular blogs and News-Channel have been criticizing Amazon for monitoring its employees. Jassy will have to deal with that pressure to make sure he defends the company. Many resigned or retired workers have complained about cruel labor conditions in the warehouse. This year, some Alabama workers formed a strike over the matter. But the director, Kelly Nantel, talks about how the union decided to throw away the worker’s decision.
Bezos wrote to his shareholders, telling them to guide the welfare of each employee. They have been working towards embracing the customers. But from this decade, the CEO wrote about their plan to make Earth a safe place for everyone.
At one point, Amazon was accused of collecting data from third-party organizations. Some companies sued Amazon for collecting data and making similar products. Amazon defended themselves by sticking their brand to any product. Minor companies had no option but to sell on amazon because they can not compete with the company.
An Amazon spokesman said the company makes its product and doesn’t use other companies’ data. They only launch each selling product monthly to experience the force of the market.
Jassy, at a time, might take time for him to cope up as the CEO of the new organization. Tim Cook took over three years to lift Apple after Steven Job. But Jassy was there, during hard and good times, until Amazon was a worldwide company. He is aware of the tricks and paths he can follow to succeed. Furthermore, being the star for AWS has been a perfect experience. Khan, a professor at the University of Pennsylvania, referred to Jassy as an innovative successor. People have high hopes that Amazon will grow more expansive than it is now.