Amazon founder Jeff Bezos is among a very few who can claim to have revolutionised global retail, but his decision to stand aside as chief executive barely registered on the online giant’s share price.
That’s partly because the 44% sales jump to $125.6bn (£92bn) in the fourth quarter, with net income more than doubling to $7.2bn (£5.3bn), understandably reassured investors that the juggernaut powers on.
It also reflected the fact that Bezos will continue to be involved at Amazon – he will become executive chair – rather than sailing off into the sunset.
And it showed confidence in Andy Jassy as Bezos’ successor as CEO – after all, he has been at the company since 1997 and built up its cloud computing business, a division that contributes about half of Amazon’s operating income.
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