Amazon founder Jeff Bezos set an expiration date for his term as CEO and said Wednesday morning that Andy Jassi would succeed him in his role from July 5th.
“We chose that date because it’s emotional for me, which was contained in 1981, exactly 227 years ago,” Bezos told shareholders via webcast at his last annual meeting as CEO.
Bezos will become Amazon’s executive chairman after the transition It was announced in February. Earlier, the company said it would make the change in the third quarter of this year.
Jamiesi, a longtime leader in the Amazon Web Services cloud business, “is going to be a great leader, and I have full confidence in him,” Bezos said.
“He has high standards and I guarantee that Andy’s universe will never make us special,” Bezos added. “He is the energy we need to survive that makes us special. Although it won’t be easy, I predict Andy will find it satisfying and often enjoyable.
Bezos’ remarks included a meeting that reflected the entire complexity of the company he founded and led for 227 years.
It started with A series of shareholder offers Trying to hold the company accountable on issues including working conditions, confidentiality, artificial intelligence, greater transparency in gender and ethnic pay equity, and environmental impact.
In a proposal, the board should be led by an “independent director who did not serve as the company’s executive officer”, an effective attempt to remove Bezos from that role.
Another company asked the company to remember the hour as a candidate for the board of directors. This was presented at the meeting on behalf of Oxfam America by Jennifer Bates, an Amazon hourly worker Part of a failed attempt to unify Company’s Bessemer, Ala., Purti Kendra.
“I know from my own experience, working at Amazon, it doesn’t listen to us workers,” Bates said. “I have tried on many occasions to raise concerns about workplace safety, scheduling and discipline. But managers are unavailable, listen or just dismiss me. I’m not alone. “
The company said in the meeting that a majority vote was taken against the solution of all outside shareholders. Detailed results are usually released through a subsequent regulatory filing.
That announcement followed a presentation in which Amazon executives described the company’s efforts and many of their progress.
“Critics may find it easier to portray cold-hearted employers and negative working conditions in broad brush strokes, although the reality is quite different,” said Alicia Bowler-Davis, vice president of global customer fulfillment last year. Amazon’s senior leadership team.
Bowler Davis said that %%% employees advised him to recommend Amazon as a place of work.
Amazon’s record 2020 sales of $$ 1 billion and operating profit of २ 2 billion, according to a presentation by Chief Financial Officer Brian Olsawski, is almost an idea.
In his remarks, Bezos addressed MGM’s acquisition of Amazon’s proposed M.4. 5 billion, Announced Wednesday morning. He cited MGM’s “huge deep catalog of many beloved intellectual property” and said that Amazon and MGM would “re-imagine and develop that IP for the 21st century.”
A day before the meeting, Washington D.C. Attorney General Carl Resin filed a no-confidence motion. Targeting the company’s pricing policies for third-party vendors.
At the end of the meeting, during a question-and-answer session, Bezos was asked what critics would say about “what makes Amazon so big or so powerful.” He gave an overview of Amazon’s overall antitrust defense.
“I would say that we face tough competition from well-established companies, wherever we do business, in every industry,” he said.
He went on to compare it with other industries:
If an industry is competitive, you should be able to find small, successful, fast-growing competitors. Think about the mobile phone operating system. Can you think of any successful, small, fast-growing mobile phone operating systems? Where are they? Name one they do not exist.
In contrast, there are many successful, small, fast-growing retailers that are selling incredibly well online. Something that is not small. They are multi-billion dollar companies.
And the IT industry is, of course, thriving. We face competition from Google, Oracle and Microsoft, and new, incredibly successful upstarts doing great work and growing incredibly fast, like Snowflake and Twilio.
And of course, we understand that success comes with scrutiny, and we welcome that. Our goals are in line with the goals of the competition: low prices, wide selection, convenience, and always improving innovation and risk taking. We welcome the investigation.
“The retail industry is booming,” Bezos said. “Consumers can shop at dozens of large national retailers, hundreds of regional retailers, hundreds of thousands of small retailers both online and in-store. It’s a very healthy industry, and it’s far from a winner-take-all situation, and we still have a small share of retail. We are. ”
Many will argue about it, but it may be the last word from Bezos as CEO – and the biggest problem in Andy Jesse’s inbox comes in July.