"He's going to be executive chairman, super important role, super active in the Amazon success story." "I will reiterate is not leaving," Brian Olsavsky, chief financial officer of Amazon, told investors on Tuesday. Bezos remains one of Amazon's biggest shareholders. Several major tech executives have stepped down as CEO and remained intimately involved in their companies’ business, including Larry Ellison at Oracle and Bill Gates at Microsoft. It remains to be seen how active Bezos will be in Amazon’s business in his new role. Amazon's share price was up about 1.5 percent following the announcement.īezos steps away from Amazon at a time when its market value hovers around $1.7 trillion, making it one of the most valuable companies in the world.
Investors didn’t seem fazed by the news, either. Amazon reported a year of record growth on Tuesday, including a 38 percent increase in net sales from 2019, netting the company $21 billion in income, nearly double from the year before. The announcement set off alarm bells on Wall Street and throughout the business community, though the transition does not necessarily portend any significant change to Amazon’s business. David Paul Morris / Bloomberg via Getty Images file "We give preference to children who are in foster care or whose families are experiencing homelessness about 13% of our enrolled students are in that category," says Ford.In a memo to employees, Bezos said the transition will give him "the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions." Andy Jassy, chief executive officer of web services at Inc., speaks during the Amazon Web Services Summit in San Francisco, on April 19, 2017. Such schools are open in under-resourced communities, but admissions eligibility isn’t just determined by family income. The new school takes up about 3,800 square feet, where they have three classrooms that can accommodate 20 students each. Located downtown at Everett Station, the tuition-free learning center opened its doors on March 2, 2023. So it takes us a while between when we first have a conversation with an organization, in this case the city of Everett that was excited to bring a full-day tuition-free preschool to the community," said Katie Ford, Chief Marketing and Communications Officer for Bezos Academy. "As with all of our schools, this one has been nearly a couple of years in the making. The school offers year-round Montessori-inspired education to children ages 3-5 years old, five days a week.
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