What Does Jeff Bezos Stepping Aside Mean?

Jeff Bezos needs no introduction. He is the man than could afford to go through a divorce during a pandemic and remain the richest man in the world.

While Bezos has lost the bragging right to Elon Musk – the CEO and Co-founder of Tesla, that is not the reason he is making the headlines now.

The reason is that the founder of the online retail platform – Amazon; is stepping down in his capacity as Chief executive of the Company. But what exactly does this mean for the future of the company that has made major strides and the founder himself?

Concerns over Andy Jassy’s Competence

While announcing major strides accomplished by the company especially during the Christmas period, Bezos also announced that he will be stepping down in his capacity as chief executive. However, he explained that he will still function in the role of executive chair of the company.

In the wake of this development, there have been reservations and concern about the ability of the new chief executive – Andy Jassy to function effectively.

This is not an irrational concern given that he is somewhat of an unknown face in the commercial facet. Furthermore, Jeff Bezos has proven time and time again that he is a corporate hero. Having to fill those shoes comes with so much expectation.

What Does This Mean for Jeff Bezos?

In the real sense, this decision does not undermine Bezos’s ability to make major decisions in the company he founded.

For one, he is highly regarded in and outside the company. Therefore, his views cannot be taken for granted.

Furthermore, he remains the highest shareholder and therefore can call the shots to a large extent. Additionally, Bezos will still be acting in the role of executive chair of the company.

The decision is no more than a formal justification to iron out other corporate matters. This could be about seeing to the effective running of the Washington Post, Blue Origin, and making his mark on the climate change movement.