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Amazon will get traders prepared for day when Jeff Bezos is not CEO 


Amazon CEO Jeff Bezos

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Deep within the danger elements part of its quarterly report, Amazon modified one phrase in describing the significance of its founder and CEO.

“We rely on our senior administration and different key personnel, together with Jeffrey P. Bezos, our founder, President, CEO, and Chairman,” the corporate mentioned in its quarterly monetary report Friday.

As not too long ago as its annual report three months in the past, the phrase “notably” preceded Bezos’ identify. It is a delicate however essential shift as Amazon prepares handy over the reins to a brand new CEO for the primary time in its 27-year historical past.

Amazon mentioned in February that Bezos will step down as CEO within the third quarter, although he’ll retain the place of chairman. The corporate named Andy Jassy, head of Amazon Internet Companies, as his successor.

Bezos, the world’s richest individual, has lengthy been the one identify referenced in the important thing individuals part of its danger elements. Bezos based Amazon in 1994 as a web-based bookseller and has since turned it into an e-commerce, software program and media behemoth valued at greater than $1.7 trillion.

Amazon’s inventory is buying and selling close to a document on Friday, a day after quarterly income and earnings topped analysts’ estimates.

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