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February 03, 2021
Why now? Did Bezos pick the right time to leave?
The only surprise over this timing is that…anyone is surprised by the timing. We may not have known the exact hour and day but it was clearly telegraphed in advance. Amazon’s culture of loyalty is remarkable, with very few of his top “S-team,” as they refer to the top few dozen leaders, leaving for other jobs.
When the head of the consumer group, Jeff Wilke, announced in August he was “retiring” in 2021, that was a major signal of the plan. This triggered the addition of several stars to the S-team in the logistics space. Wilke and Andy Jassy, the head of the soaring AWS business who has now been named CEO, are both 53 years old and both with decades of loyal, business-building triumphs. AWS now represents 10% of Amazon’s revenue but a staggering 55% of their operating income. We should have seen this coming.