Jeff Bezos is the CEO & Founder of Amazon and has been woking for the company for 30 years.
He started the company from his garage as a internet book seller.
Amazon eventually became very successful and profitable.
He is world renowned and he became the richest man in the world.
Now they have diversified into book selling, OTT, retail and other markets.
Bezos will step down as CEO and assume the position of executive chairman
from the third quarter of this financial year.
Amazon CEO will now be Andy Jassy.
Jassy currently heads Amazon Web Services (AWS).
Jassy joined Amazon in 1997.
He also founded the company and made it a profitable venture.
Bezos posted a note for his employees on the Amazon website which said:
As the Executive Chairman I will continue to work at Amazon
but I will also have time to focus on my other passion projects such as
Bezos Earth Fund, Amazon owned - The Washington Post, etc.
Since the start of the Coronavirus pandemic in the USA,
shops shut down so people turned to Amazon for delivery of home staples and medical supplies.
To meet the rising demand they even hired 4 lakh more workers.
Amazon has said that they have made huge profits.
When Bezos was the CEO, Amazon said that
if Amazon invests in India, they will surely make huge profits.
This is why Amazon has decided to invest $6.5 billion to grow its business.
On a visit to India in September 2014, Besoz wore traditional Indian clothes,
rode atop a truck and also gave a cheque to Amazon India for $2 billion dollars.
Bezos said when he arrived in India, he was ‘Amazed & Engerised’.
Currently in India, Future Group & Amazon who are business partners, are at loggerheads.
Let me tell you what happened.
In 2019, Future Retail's subsidiary Future Coupon
had signed a Rs 2,000-crore deal for Amazon to acquire 49% of its stake.
They also entered into an agreement which said if Future group wants to sell any of its companies,
they would have to approach Amazon for permission.
Now Future group wants to see its retail assets such as Big Bazaar, etc to Reliance.
But Amazon is not allowing it.
This has irked future group and they have filed a case in the Delhi High Court.