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Jeff Bezos stepping down as Amazon CEO signals that we re nearing the end of the founder-CEO era in Big Tech. Here s what it means for a company when its founder takes a step back.
Jeff Bezos stepping down as Amazon CEO signals that we re nearing the end of the founder-CEO era in Big Tech. Here s what it means for a company when its founder takes a step back.
Lisa EadiciccoFeb 7, 2021, 18:17 IST
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Amazon and will take on a new role as executive chairman.
Facebook will be the only
tech company in the big five that still has its founder as its CEO.
C
Jeff Bezos will be stepping down as CEO of Amazon and will take on a new role as executive chairman.
Facebook will be the only tech company in the big five that still has its founder as its CEO.
This type of transition is common because it keeps the company s key visionary involved in big decisions.
Amazon CEO Jeff Bezos announced on Tuesday that he will be stepping down as the CEO of the online retail empire he founded in 1994 and evolved into one of the world s most valuable technology companies.
Andy Jassy, a long time lieutenant of Bezos and CEO of the company s booming cloud business, will replace him in the third quarter of 2021. But that doesn t mean Bezos is done with Amazon; he ll be stepping into a new role as executive chairman that will involve weighing in on big-picture decisions like product strategy and new projects.
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Wynn Macau Ltd’s adjusted property earnings before interest, taxation, depreciation and amortisation (EBITDA) were back on positive ground in the fourth quarter of 2020, the Macau casino firm reported on Thursday.
The Macau unit – controlled by United States-based operator Wynn Resorts Ltd – saw its adjusted property EBITDA reach US$39.4 million in the fourth quarter, after a loss on adjusted property EBITDA amounting to US$112.1 million, for the three months ended September 30, 2020.
Wynn Macau Ltd reported in a filing to the Hong Kong bourse, a US$144.9-million fourth-quarter loss, compared to a US$182.0-million profit in the fourth-quarter 2019. The final-quarter 2020 net loss narrowed sharply from the nearly US$280.7-million net loss in the third quarter of that year.