Part of those discussions take place at the board level. Top 25 executivesīezos previously told Insider in a 2014 interview that Amazon had a succession plan for himself and "all of our senior executives." He didn't reveal the name of his successor at the time, but he signaled that the company had already been making plans for his eventual resignation even back then. "Jeff tries not to do things too suddenly."Īmazon's spokesperson declined to provide an on-the-record comment for this story. ![]() "It's really for the company to systemize a process," one person said. All of them spoke on the condition of anonymity because they were not authorized to speak publicly about the company. Insider spoke with six current and former Amazon executives to learn more about the company's succession planning process. Still, people say it's an effective yet little-discussed strategic tactic in Amazon's playbook that can help the company smoothly transition to the post-Bezos era amid the biggest leadership upheaval in its 27-year history. People familiar with the process said it's more of an informal system than an established program, with enough flexibility that allowed Bezos to keep Jassy's appointment and the exact timing of his resignation close to his chest. It's a fairly rigorous procedure that's based on intensive bureaucracy, years of research, and a constant dialogue that all leads to a continuity of governance within Amazon that's as detail-oriented as the company itself. Executives are also encouraged to have succession talks with two or three direct reports, in case an unexpected change occurs. The succession planning involves an annual review of the top executive team's future plans and backup candidates, as well as a chart that maps out the company's rising stars, Insider has learned. Amazon Web Services CEO Andy Jassy will replace Bezos as Amazon's CEO in the third quarter of this year.īehind the scenes, however, Bezos's plan to ultimately relinquish the CEO title had been in the works for years, through the company's succession planning process, these people said. That's when Bezos signed the paperwork and formalized his move to executive chairman, as the US Securities and Exchange Commission requires any material change at the company to be filed within four business days. The process includes annual board reviews of internal charts that list top senior executives.Īmazon CEO Jeff Bezos's decision to officially step down last month came on short notice.Įven those working closest to the CEO's office learned about it just two days before the announcement, according to people familiar with the matter.Amazon has an internal succession planning process that helps prepare for leadership changes.Amazon CEO Jeff Bezos is stepping down later this year.Account icon An icon in the shape of a person's head and shoulders.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |