Jeff Bezos Will Step Down as Amazon CEO in Third Quarter of 2021

Jeff Bezos will step down as CEO of Amazon and become Executive Chair of the Amazon Board in 2021 third quarter. Andy Jassy will become CEO.

Bezos will focus on new products and early initiatives.

As Exec Chair, Bezos 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.

Bezos is the second richest person in the world. Although stock price fluctations in Tesla and Amazon can alter whether Musk or Bezos is the richest.

Amazon Announced 2021 Financial Results

Amazon (NASDAQ: AMZN) announced financial results for its fourth quarter ended December 31, 2020.

• Operating cash flow increased 72% to $66.1 billion for the trailing twelve months, compared with $38.5 billion for the trailing twelve months ended December 31, 2019.
• Free cash flow increased to $31.0 billion for the trailing twelve months, compared with $25.8 billion for the trailing twelve months ended December 31, 2019.
• Free cash flow less principal repayments of finance leases and financing obligations increased to $20.3 billion for the trailing twelve months, compared with $16.2 billion for the trailing twelve months ended December 31, 2019.
• Free cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligations increased to $21.4 billion for the trailing twelve months, compared with $12.5 billion for the trailing twelve months ended December 31, 2019.
• Common shares outstanding plus shares underlying stock-based awards totaled 518 million on December 31, 2020, compared with 512 million one year ago.

Fourth Quarter 2020

• Net sales increased 44% to $125.6 billion in the fourth quarter, compared with $87.4 billion in fourth quarter 2019. Excluding the $1.7 billion favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 42% compared with fourth quarter 2019.
• Operating income increased to $6.9 billion in the fourth quarter, compared with operating income of $3.9 billion in fourth quarter 2019.
• Net income increased to $7.2 billion in the fourth quarter, or $14.09 per diluted share, compared with net income of $3.3 billion, or $6.47 per diluted share, in fourth quarter 2019.

Full Year 2020

• Net sales increased 38% to $386.1 billion, compared with $280.5 billion in 2019. Excluding the $1.4 billion favorable impact from year-over-year changes in foreign exchange rates throughout the year, net sales increased 37% compared with 2019.
• Operating income increased to $22.9 billion, compared with operating income of $14.5 billion in 2019.
• Net income increased to $21.3 billion, or $41.83 per diluted share, compared with net income of $11.6 billion, or $23.01 per diluted share, in 2019.

Amazon Devices and Services
• Amazon announced that Fire TV now reaches more than 50 million monthly active users around the world. Amazon also secured new content deals with premium streaming providers, including HBO Max, discovery+, and Xfinity in the U.S.; Disney+ in Mexico and Brazil; NOW TV in the UK; and CANAL+ in France. The new Fire TV Experience released globally includes a redesigned Home Screen, Profiles, and a new voice-first experience with Alexa to easily discover content.
• Zoox revealed the first look at their fully functional, electric, autonomous vehicle, which features bi-directional driving and is capable of speeds up to 75 miles per hour.
• Amazon continued to make progress on Project Kuiper, a low earth orbit satellite constellation that will increase broadband access for unserved and underserved communities around the world. In December, the team revealed designs for the Ka-band phased array antenna that will be used in its customer terminal. The antenna is smaller and lighter than legacy designs, allowing Amazon to produce a customer terminal that is more affordable and easier to install.

• Amazon announced the first Alexa built-in commercial trucking integration in Volvo Trucks in the EU; the first integration in Brazil with BMW’s BMWi and MINI cars; and new vehicle launches with Dodge Durango, Chrysler Pacifica, Fiat 500 electric, and Acura MDX. Additionally, new Alexa integrations were announced at the Consumer Electronics Show (CES), including Harman, Intel, Lenovo, TP-Link, Rise Gardens, and more.

• AWS announced AWS Trainium, an AWS-designed machine learning training chip that will deliver the most cost effective training in the cloud. AWS Trainium will deliver the most teraflops of any machine learning training instance in the cloud, support all major frameworks (including TensorFlow, PytTorch, and MXnet), and use the same Neuron SDK used by AWS Inferentia (an AWS-designed chip for machine learning inference acceleration), making it easy for customers to get started training quickly with AWS Trainium. AWS Trainium is coming to Amazon EC2 and Amazon SageMaker in the second half of 2021.

SOURCES- AboutAmazon
Written By Brian Wang, nextbigfuture.com

12 thoughts on “Jeff Bezos Will Step Down as Amazon CEO in Third Quarter of 2021”

  1. Unexpected news. I think this will affect the shares of Amazon. You can prepare and earn money on it. It's interesting to buy data on Amazon's big sellers on https://sellerdirectories.com/ and study their behavior. Perhaps you can find some hints about future trends. In any case, be vigilant and good luck!

  2. He has tons of passion for Space, and the money to do amazing things, so I'm hoping he pours far more time & money into Blue Origin, and finally give SpaceX some real competition.

  3. "reusable steal space Plane as second stage for the New Glenn with Hydrogen engines" perhaps Reaction Engines? Local expert consensus seems to be that H is not a good booster fuel. (edit: so there is no reason for SLS whatsoever) Yet Skylon is an H rocket, sort of, so may benefit from cheap boost? Would stay lower, to breathe, I suppose.

  4. "It is after in orbit" I'm certainly in favor of any launch advances, as that is always the starting point, for now. But the O'Neill plan is independent of launch cost. So look at BO: they have a lander engine tested, with a refuelable lander plan. The parts of Halo Gateway are modular, international but only parts are crew specific. Extending ISS style science to raw rego brought from Moon will be a big success. BO has the robot end of things covered itself, with others supplying the crew parts, under BO mgmt. Musk plans to launch fuel from Earth to go to Mars.

  5. The basic problem with BO's efforts is that they're concentrating on the "Get everything perfect on the drawing board before doing anything" model of engineering. While Musk is operating on a fast loop of test, fix, and test again.

    If you're working in a field where everything is understood, maybe BO's approach might be superior. But that's not rocketry, and SpaceX is building up an incredible lead in real world rocketry experience.

    I wish them both good luck, though.

  6. Second stage New Glenn uses two of same H engines as current third stage being tested as sub-orbital. BO spin off already working on recovery of second stage, but it may be saved as space tug too, as H refueling from lunar water will be first priority. NG booster is designed for 25 crew rated reuses from the outset, has better engine than Raptor, I believe, at least a little bigger, so can also be cheap. It is after in orbit that Musk is destined to fail, dreaming of Mars delusions. Bezos has plans for Space Solar and orbital heavy industry. Bezos understands O'Neill, essential for planetary survival.

  7. Right on Dan, If I were Bezos, I would devote the time for a reusable steal space Plane as second stage for the New Glenn with Hydrogen engines. That will steal a big chunk of the show of spaceX.

  8. Bezos is notoriously a micromanager. This new CEO is going to have an annoying first few years.

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