The founder and CEO of Amazon company Jeff Bezos became the richest man in the world. He started his company 30 years ago in his garage with money from his parents for his start up. Now his execution role will be replaced by Andy Jassy. Andy Jassy is currently the head of Amazon Web Services. It is a cloud computing platform.
Andy Jassy has worked at Amazon
Andy Jassy has been working at Amazon since 1997. He has been instrumental in making AWS the company’s profit engine.
Being CEO is a big responsibility
By the way, it is a deep and big responsibility to be the CEO of Amazon Group.
As it is difficult to manage everything but it is also a great opportunity for him to grow in the future.
Jeff Bezos continues to associate with the company
Bezos wrote letters to his employees that he would continue to engage with the company in important decisions and major initiatives. Jeff Bezos will now transition into the role of chairman and focus on his other interests, such as space travel firm Blue Origin etc.
Amazon identifies India’s strategic market
Amazon, under Bezo’s leadership, identified India’s strategic market in early 2013. They have also committed to invest $6.5 billion to increase e-commerce business in India. Jeff Bezos said that India was surprised and stirring it up.
Amazon fight with trusted industries
Well, Bezos’ transition comes at a time when Amazon is at war with India’s largest commercial conglomerate – industries dependent on the acquisition of assets of the future conglomerate in which Amazon invested.
Delhi court ruled in favor of Amazon
The Delhi court ruled in favor of Amazon, withholding future group sales to give confidence to industries. Amazon’s own deal with Future Group is being investigated by the Enforcement Directorate.
According to recent reports, foreign direct investment norms in India have been suggested to be more stringent. This could adversely affect the Amazon business in India.
Amazon bezo’s transition to India. The move is unlikely to affect India. The company has the potential to become one of the largest retail market in the coming decades.
The company agrees to invest in India, they agree to invest $ 2.77 billion in mid-2022 to set up several data centers in Hyderabad in what is termed as a cloud region. It is the second cloud region in India after Mumbai. The company also wants to encourage more local and global tech firms to host applications on its platform.