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"While the voting results were lopsided and our direct relationship with employees is strong, it's clear to me that we need a better vision for how we create value for employees — a vision for their success," said Bezos, who will step down as CEO in the third quarter, turning the helm over to Andy Jassy, CEO of Amazon Web Services. Bezos will become executive chairman of Amazon's board. Amazon has famously held a core set of leadership principles, chief among them being that the company is "customer obsessed." In the future, Bezos said, he wants Amazon to do the same for its employees.

Jeff Bezos' final letter to Amazon shareholders as CEO included well-wishes and praise for his successor. Andy Jassy will take over the top job in the third quarter.  In Jeff Bezos' final letter to shareholders as the chief executive of Amazon, he thanked and praised his successor Andy Jassy. Jassy, the former head of Amazon Web Services, is taking over the top job so that Bezos can step back from day-to-day responsibilities. Amazon announced the change in February, and the transition goes into effect in the third quarter of this year. Bezos will move to the role of executive chairman. 

Total $301B If each group had an income statement representing their interactions with Amazon, the numbers above would be the "bottom lines" from those income statements. These numbers are part of the reason why people work for us, why sellers sell through us, and why customers buy from us. We create value for them. And this value creation is not a zero-sum game. It is not just moving money from one pocket to another. Draw the box big around all of society, and you'll find that invention is the root of all real value creation. And value created is best thought of as a metric for innovation.

People Moves: AIG Names BlackRock’s Wade as Digital Chief; Great American Promotes DeSoto; AXIS Adds to Cyber; Cover Genius Adds Execs April 5, 2021 American International Group announced that Claude E. Wade will join the company in the second quarter of 2021 in the newly created role, executive vice president, global head of Operations and Chief Digital Officer, AIG. Claude Wade Wade, who has 30 years of operations experience, primarily with Fortune 100 companies, joins AIG from BlackRock where he most recently served as global head of Client Experience...

Listen 8 min MORE Clementine’s Deluxe Afternoon Tea Package comes with loose leaf tea, tea sandwiches, scones, and other sweets. You can set it up like this. Photo by Katie Kelley. DineL.A. is the restaurant initiative of the Los Angeles Tourist Bureau DiscoverLA. For a long time, they’ve done twice yearly Restaurant Weeks, a promotion that allows restaurants to introduce themselves to new diners and remind lapsed regulars of what they’re missing. This time around, more than 250 restaurants are participating in Restau...