Amazon's Bezos Transitions to Exec Chair and Names New CEO
Amazon’s founder and CEO Jeff Bezos announced today that he will transition to Executive Chair in the 3rd quarter of 2021, with Andy Jassy to replace him as CEO at that time.
In a statement about the progression, Bezos said, “Amazon is what it is because of invention. We do crazy things together and then make them normal. We pioneered customer reviews, 1-Click, personalized recommendations, Prime’s insanely-fast shipping, Just Walk Out shopping, the Climate Pledge, Kindle, Alexa, marketplace, infrastructure cloud computing, Career Choice, and much more. If you do it right, a few years after a surprising invention, the new thing has become normal. People yawn. That yawn is the greatest compliment an inventor can receive. When you look at our financial results, what you’re actually seeing are the long-run cumulative results of invention. Right now I see Amazon at its most inventive ever, making it an optimal time for this transition.”
“I find my work meaningful and fun. I get to work with the smartest, most talented, most ingenious teammates. When times have been good, you’ve been humble. When times have been tough, you’ve been strong and supportive, and we’ve made each other laugh. It is a joy to work on this team.”
“As much as I still tap dance into the office, I’m excited about this transition. Millions of customers depend on us for our services, and more than a million employees depend on us for their livelihoods. 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. As Exec Chair I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions. I’ve never had more energy, and this isn’t about retiring. I’m super passionate about the impact I think these organizations can have.”
While sellers of automotive parts and accessories maintain that Amazon is a behemoth in the industry, according to JungleScout, an Amazon sales support services company in their 2021 State of the Amazon Seller report, automotive is not among their top product categories. Automotive parts and accessories ranked 18th, and account for only seven percent of their sales. Not surprising is that 78 percent of all products sold on Amazon originate in China, with the U.S. coming in second at 25 percent.
Why Amazon isn’t the sales channel that some manufacturers and many retailers think it is can be found in the average price paid for a product, with 51 percent of their sales between $11 and $25. Not many auto parts can be bought at retail in that price range, which should come as a relief to many brick-and-mortar retailers and installers. Less than 4 percent of Amazon’s sales are for items priced higher than $100, dispelling the notion that there are millions of automotive products being sold through Amazon. Only one in five, or about 19 percent, have had more than $1 million in lifetime sales through this channel.
As the head of Amazon Web Services (AWS) since its inception in 2003, Jassy joined Amazon in 1997 as a marketing manager. In 2003, he and Bezos created the cloud computing platform that became known as AWS, which launched in 2006. April, 2016 marked Jassy’s ascent from senior vice president to CEO of AWS. He is also one of the minority owners of the newest National Hockey League franchise, the Seattle Kraken. Will Amazon change direction under Andy Jassy’s watch? Just wait and see.
[Images: Amazon, Wheel Pros]
With a father who owned a dealership, I literally grew up in the business. After college, I worked for GM, Nissan and Mazda, writing articles for automotive enthusiast magazines as a side gig. I discovered you could make a living selling ad space at Four Wheeler magazine, before I moved on to selling TV for the National Hot Rod Association. After that, I started Roadhouse, a marketing, advertising and PR firm dedicated to the automotive, outdoor/apparel, and entertainment industries. Through the years, I continued writing, shooting, and editing. It keep things interesting.
More by Jason R. Sakurai
Comments
Join the conversation
I despise Bezos because he is a moron. But I am a big Amazon fan and Amazon Prime member and I do not care about Parler or Twitter. But what that idiot Bezos did is dramatically increased visibility of Parler. And by banning 45 Twitter helped to improve his image since spared us from his idiotic tweets every morning (which I did not read anyway but was force fed by TV) and increased his popularity and made him a martyr. Now they will crucify him and cement his heroic image for decades to come. And remember 2000 years later JC is still most popular superstar on the planet.
I have ordered many auto parts and supplies from Amazon. I ordered a new rear bumper for my 2008 Ford Ranger which came within 2 days along with front and rear mud flaps and side window deflectors which were considerably less expensive than the auto parts store or other online auto parts sites. Having Amazon Prime I also watch Amazon programs. Yes Amazon is big but they are meeting a need that traditional retailers have not.