[Breitbart] The company said Tuesday afternoon that Bezos "will transition to the role of Executive Chair in the third quarter of 2021 and Andy Jassy will become Chief Executive Officer at that time."
"Amazon is what it is because of invention. We do crazy things together and then make them normal," Bezos sound in the company’s announcement.
Bezos continued:
"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."
Bezos founded Amazon in 1994 as an online bookseller. The company went public in 1997 at $18 a share with a market capitalization of $438 million. On the first day of trading, shares climbed as high as $30 and closed at $23.50. Last year, the company’s market cap passed $1 trillion for the first time and it is now worth $1.7 trillion. Ten thousand dollars invested in the company in 1997 would be worth around $16.8 million today. |