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The new president of Amazon will replace Bezose on July 5.  These are the challenges that lie ahead

The new president of Amazon will replace Bezose on July 5. These are the challenges that lie ahead

Andy Gacy will sit in the chair of the tech e-commerce giant’s director built by Jeff Bezos exactly twenty-seven years after the world’s second-richest man is currently on

Jassy, ​​who currently leads Amazon’s fast-growing cloud computing division, will take a new role after a successful year in which Amazon announced high profits and expanded its employees by half a million people.

On the one hand, it will also have to face increasingly stringent regulation, growing shareholder votes calling for more diversity, as well as better employment conditions and rights.

It will first have to integrate and then develop entertainment content, which is linked to the acquisition of Amazon this week, when the company bought MGM film studio for $ 8.45 billion.

“Andy is very well known in the company and has been on Amazon for nearly a long time. The environment will not allow us to be normal,” Bezos said at an annual meeting in front of shareholders on Wednesday.

Jeff Bezos at the annual meeting with Amazon shareholders

Bezos assured investors that a great future awaits the company under the new leader, and Amazon will continue to pursue strong innovations despite their size.

These include, for example, investments in autonomous supplies and the Kuiper Satellite Program, which aims to provide high-speed Internet access with low latency.

“I cannot guarantee that all of these ideas will succeed, but the only way to achieve above-average profitability is to be prepared to enter into risky ventures.“ Many of them will succeed in the end. ”Incoming President Andy Gacy did not attend the meeting. With them.

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In his speech, Bezos also addressed concerns about strengthening regulation and oversight in the antitrust body. The meeting took place the day after the Federal District of Columbia filed an antitrust complaint.

According to her, Amazon has not allowed sellers to reduce prices below offering competitors in its online marketplace while seeing higher profits. In the United States, this is the first government action against a private company.

The American billionaire also mentioned the cloud business, stating that Amazon is moving in a highly competitive and predatory environment with fast-growing players – like SnowFlake or Twilio.

However, other Amazon managers also participated in the meeting, who also commented on the staff. In the past, they tried to form a union, filed lawsuits over discrimination and called on management to pay attention to diversity when selecting workers.

“While it may be easy for critics to portray us as a cold-blooded business owner with poor working conditions, the reality is very different,” said Alicia Buller Davis, vice president of customer relations at Amazon.

She added that the company’s goal is to become the best employer in the world, which means, in light of the scandalous conditions proven in some of Amazon’s operations, the company still has a long way to go.

According to Chief Financial Officer Brian T. Olsavsky, Amazon hired half a million new employees last year and now has a total of 1.3 million worldwide.

Olsavsky did not forget to boast that the giant’s sales increased last year by 38 percent year-on-year to $ 386 billion. The growing cloud division, which has so far earned “only” 45 billion, has also contributed.

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In recent years, Amazon has shown that these numbers free it from acquisitions, such as the aforementioned purchase of MGM film studio or retail chain Whole Foods in 2017, when the company paid $ 13.7 billion for it. So it has the means to enter new industries on a large scale.

But the new president, Andy Gacy, will have to deal with mounting pressure from areas that Jeff Bezos has avoided over the past three decades or has never had to deal with.

“It won’t be easy. But I would point out that Andy will often find satisfaction and fun.”