In case you haven’t heard, Jeff Bezos is stepping down as Amazon CEO and handing over the reins to Andy Jassy.
What’s the big deal about that?
Amazon has two big components. It has the cloud component, which is AWS (Amazon Web Services), and it has the retail side of the business. And interestingly enough, Jassy was already the chief executive of AWS.
You’re probably wondering why Dave Clark, the head of Amazon retail, wasn’t given the job and what that means for the company’s future, the economy and other stocks.