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Here's What The Street Thinks Of Amazon's New Boss

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Jayson Derrick
·2 min read
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Jeff Bezos' era of running Amazon.com, Inc. (NASDAQ: AMZN) as CEO comes to an end later this year. His replacement is Andy Jassy, a veteran of Amazon since 1997 and is credited with founding Amazon Web Services (AWS).

One Of The First: Jassy was one of the first Amazon employees to work directly for Bezos as a sort-of "technical assistant role" that transformed to a "chief of staff" title where he was "deeply involved in the core things Bezos was doing every day," CNBC's Jon Fortt said.

Fortt, a technology and leadership reporter, said he interviewed Jassy on many occasions and despite leading AWS, the executive was always able to speak of Amazon's overall strategy. As such, naming Jassy as Bezos' replacement shouldn't come as a surprise.

"Jassy has had his fingers in all parts of the company," he said.

Related Link: 'Replacing The Irreplaceable': Amazon Analysts React To Bezos Departure, Earnings Beat

Amazon Is On Cruise Control: Amazon has evolved over the years to become a tech giant on cruise control to the point where multiple leadership changes can take place without investors noticing any major changes, Insider CEO Henry Blodget told CNBC. It might take three to five years before it becomes apparent if the changing of the CEO guard will be a big deal or not.

In the meantime, Bezos will continue to exert his power and influence as a major shareholder and executive chair of Amazon. He will be keeping an eye on Jassy to make sure big mistakes aren't made.

Jassy Is 'Key' To The Future: Investors that still need to be convinced Jassy is the right person to lead Amazon should partake in a time-consuming exercise, CNBC's Jim Cramer said on "Squawk on the Street": Pull up Amazon's recent earnings release to gain insight into management's plans for the future.

"Jassy is the key for a lot of these initiatives," Cramer said.

(Photo: Amazon)

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