Amazon chief and founder Jeff Bezos announced his plans to step out of the CEO role on a high note. That includes a record holiday season — helped along by moving Prime Day to October — and a year that pushed its North American sales up 38.4% to $236.3 billion. All that growth, however, wasn’t cheap or pain free by any means.
The biggest news from Tuesday was the transition at the CEO level, with Bezos set to become executive chair of Amazon’s board and Andy Jassy, currently chief of the company’s AWS cloud services unit, to take over as CEO. Telsey Advisory Group analysts led by Joseph Feldman said of the incoming CEO, “In our view, Mr. Jassy is an inventive technology leader who should continue the push to innovate while being a good steward of the company culture.”
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