Many challenges are awaiting Amazon’s new CEO
More scrutiny is likely now that Amazon is the second-largest private employer, coming just behind Walmart.
In 1995, few could imagine that the modest online bookstore built by Jeff Bezos would turn into a $1.7 trillion behemoth that sells everything from diapers to sofas, produces movies, owns a grocery chain and provides cloud computing services to businesses all over the globe.
Amazon has become all of that and more, and now it will be up to Andy Jassy to lead the company forward as CEO.
On Tuesday, Amazon announced that Bezos would step aside this summer and assume the role of executive chairman so he can focus on new products and initiatives being developed at Amazon.
In 1995, few could imagine that the modest online bookstore built by Jeff Bezos would turn into a $1.7 trillion behemoth that sells everything from diapers to sofas, produces movies, owns a grocery chain and provides cloud computing services to businesses all over the globe
In 1995, few could imagine that the modest online bookstore built by Jeff Bezos would turn into a $1.7 trillion behemoth that sells everything from diapers to sofas, produces movies, owns a grocery chain and provides cloud computing services to businesses all over the globe.
GROWING SCRUTINY
Regulators around the world are examining Amazon’s business practices, specifically the way it looks at information from businesses that sell goods on its site and uses it to create its own Amazon-branded products. Bezos said at a hearing before Congress last summer that even though Amazon had a policy preventing employees from accessing seller data, he couldn t guarantee that the policy wasn t being violated.
Tech giants for decades have enjoyed light-touch regulation and star status in Washington, but calls for greater scrutiny have been growing. The U.S. government has already slapped two Big Tech companies Google and Facebook with antitrust lawsuits.
AP Photo/Michel Spingler, File
NEW YORK (AP) In 1995, few could imagine that the modest online bookstore built by Jeff Bezos would turn into a $1.7 trillion behemoth that sells everything from diapers to sofas, produces movies, owns a grocery chain and provides cloud computing services to businesses all over the globe.
Amazon has become all of that and more, and now it will be up to Andy Jassy to lead the company forward as CEO.
On Tuesday, Amazon announced that Bezos would step aside this summer and assume the role of executive chairman so he can focus on new products and early initiatives being developed at Amazon.