About This Source - Bloomberg QuickTake: Now
Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City.
It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 12% ownership investment by Merrill Lynch.
Recent from Bloomberg QuickTake: Now:
Bloomberg Quicktake: Now published this video item, entitled “Andy Jassy to Replace Amazon Founder Jeff Bezos Amazon as CEO” – below is their description.
Amazon.com Inc. Chief Executive Officer Jeff Bezos will step down from his post in the third quarter of 2021 and be replaced by Andy Jassy, the head of the company’s cloud computing unit.
Jassy for years has been seen as a potential successor to Bezos, who founded the company as an online bookstore from his Seattle garage more than 25 years ago and became one of the world’s wealthiest men. Jassy’s likelihood as successor seemed inevitable last year when Jeff Wilke, who was the company’s consumer business chief and was also seen as a potential successor, announced he’d be leaving the company this year.
Bezos, the company’s driving force since its founding, will become executive chairman, Amazon said Tuesday in a statement.
The transition arrives at time when Amazon seems unstoppable, fueled by record sales amid the pandemic and generating massive cash and profits from the cloud services business Jassy helped create and manage. Bezos isn’t going far, much the way Bill Gates remained chairman of Microsoft Corp. after ceding the CEO role.
“When you look at our financial results, what you’re actually seeing are the long-run cumulative results of invention,” Bezos said in a statement. “Right now I see Amazon at its most inventive ever, making it an optimal time for this transition.”assy
The reaction on Wall Street was mostly positive, even as Amazon turned in another blockbuster quarter and solid guidance.
The online retailer reported fourth-quarter sales jumped 44% to $125.6 billion, beating analysts’ average estimate of $119.7 billion. Earnings were $14.09 per share, compared with analyst projections of $7.34.Bloomberg Quicktake: Now YouTube Channel
Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.
In This Story: Jeff Bezos
Jeffrey Preston Bezos is an American business magnate, media proprietor, investor and commercial astronaut. Bezos is the founder and executive chairman of Amazon, having previously served as chairman, president and CEO of the company.
4 Recent Items: Jeff Bezos
In This Story: Microsoft
Microsoft Corporation (NASDAQ: MSFT) is an American multinational technology company with headquarters in Redmond, Washington. It develops, manufactures, licenses, supports, and sells computer software, consumer electronics, personal computers, and related services.