In a shocking turn of events, Amazon CEO Jeff Bezos has announced to step down as the CEO of Amazon. He will instead transition into an Executive Chair of the board by third quarter of 2021. Reportedly at that point, the CEO of Amazon Web Services (AWS), Andy Jassy will replace him as the new boss. Jassy has been in Amazon since 1997 and helped set up cloud computing and API services that became an important part of Amazon’s success. With that being said, some unanswered questions were still circulating among the masses.
Mainstream media has not covered much on the reasons why Jeff Bezos is stepping down as Amazon’s CEO. Despite being entitled to individual choice, the billionaire did not remain safe from the criticism. Last year has not been easy on the tech giant either.
Bezos did reach to the top of the world’s richest list but shocking controversies has tainted his ultimate glory. Social media has highlighted some of them but what tops the list is the treatment of Amazon workers on Jeff’s watch. On the day his wealth shocked everyone, his employees brought guillotine outside his house to protest against low wage and inadequate facilities. Critics of the company continue to raise concern regarding Jeff’s earning and return to the community.
Why Jeff Bezos Is Transitioning His Position?
Critics argue that Bezos might be taking a beat seat due to excessive criticism on daily basis. Amazon crossed a 1 million USD market cap under Jeff’s command but continued to face countless allegations and lawsuits. There are ongoing investigations of the malpractices by the company which the world is unable to forgive. Analysts are concerned that the new CEO will inherit all the challenges while the billionaire just rides off into the sunset with glorifying press coverage.
Some experts have warned against believing that Jeff is actually gone. By taking the position of Executive Chair, Jeff will officially remain an earning partner of the company with different job description. After the transition, he will have a relatively less influence but will till hold the right to exercise substantial power on the company. And at the same time, he will stay safe distance away from the investigative media.
Critics have also warned against getting fooled by the news as it is largely amplified in a questionable direction. They were concerned that Bezos is still in a position of immense control and Amazon’s predatory and abusive monopoly is yet to be dealt with. Apart from that, controversies like misconduct with employees and forbidding them from creating unions were also circulating on social media. A global movement named Make Amazon Pay has been working to demand the corporate giant to pay taxes according to its wealth, treat employees right, and keep the Earth’s environment safe.
Controversies About Treatment Of Amazon Employees
There are numerous claims suggesting Amazon has treated its workers with utter disrespect. According to various financial reports, Jeff Bezos makes more than 200 million USD in a single day. It is alarming for many who allege why Jeff Bezos is so greedy to not facilitate the needs of his own workforce. Which is why the news of tech giant leeching off the tips of its delivery driver has shocked the social media. Some reports have confirmed that Amazon agreed to settle the 61.7 million USD charges for withholding delivery drivers’ tip, upon orders from Federal Trade Commission.
People constantly raised voice against this development but a few hours later, the news of Jeff stepping down as CEO went viral. All of this seemed connected and observers were not happy. They expressed concern that the world is flocking towards the wrong news as Jeff could be stepping down because of the same controversy.
Majority of the news outlets have covered Jeff’s backstep in way that described his glorious run and leadership qualities.
Failure To Satisfy Anti-Trust Concerns
This brings another reason pointed out on social media. His leadership might not be so glorious if Amazon fails to answer antitrust lawsuits with authenticity. Two continents have been bothered by the business activities of this tech giant. Besides ongoing investigation by US congress, the EU has also slammed it with a 37 million USD fine informal antitrust charges. Moreover, the tech giant is also accused of different fraudulent activities.
Democratic US Representative, Pramila Jayapal investigated Bezos and revealed that Amazon lied about not using seller data for creating product under its own brand. In a video call, Bezos admitted that he couldn’t guarantee that his own company policies had been violated.
Lofty Ambitions Of The Giant
After all the scrutiny and flak towards Amazon, critics believe that the billionaire is tired of falling from grace. He is worth around 200 billion USD so one can only imagine what to do with such money while not doing business in Amazon. Bezos has pretty exclusive endeavors outside of Amazon. Firstly, his space project, Blue Origin is hoping to start private space exploration soon. Secondly, he has thrown more than 10 billion USD into the Earth Fund to assist in the battle against climate change. And lastly, he controls the media reports with The Washington Post, which he purchased in 2013 for 250 million USD. The newspaper belonged to the Graham family since 1963.