Read Jeff Bezos’ Final Letter to Shareholders Before Stepping Down as Amazon CEO

Amazon founder and longtime CEO Jeff Bezos issued his final letter to shareholders on Thursday before stepping down as head of the company. Bezos will leave his post in the third quarter and transition to executive chairman of Amazon ‘s board. Andy Jassy, the CEO of Amazon Web Services, will replace Bezos as CEO of the company. In his final letter to shareholders, Bezos outlined a broad vision for the company’s future, including pledging to improve safety and quality for its employees, and focusing on climate change issues. Bezos also discussed the company’s growth and success of creating $1.6 trillion in shareowner wealth since it was first founded as a bookstore in 1997. Read Bezos’ full letter to shareholders below: To our shareowners: In Amazon’s 1997 letter to shareholders, our first, I talked about our hope to create an “enduring franchise,” one that would reinvent what it means to serve customers by unlocking the internet’s power. I noted that Amazon had grown from having 158 employees to 614, and that we had surpassed 1.5 million customer accounts. We had just gone public at a split-adjusted stock price of $1.50 per share. I wrote that it was Day 1. We’ve come… Read full this story

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