Amazon will get traders prepared for day when Jeff Bezos is not CEO

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Jeff Bezos, CEO of Amazon

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Deep in the Risk Factors section of its quarterly report, Amazon changed a word to describe the importance of its founder to the CEO.

“We rely on our senior management and other key people, including Jeffrey P. Bezos, our founder, president, CEO and chairman,” said the company in its quarterly financial report on Friday.

Even before his annual report three months ago, the word “special” was in front of Bezos’ name. It’s a subtle but important change as Amazon prepares to hand over the reins to a new CEO for the first time in its 27-year history.

Amazon said in February that Bezos will step down as CEO in the third quarter, although he will retain the chairman position. The company named Andy Jassy, ​​head of Amazon Web Services, to succeed him.

Bezos, the richest person in the world, has long been the only name referred to in the section on key people in the risk factors. Bezos founded Amazon as an online bookseller in 1994 and has since grown into an e-commerce, software and media giant valued at over $ 1.7 trillion.

Amazon’s stock traded near a record high on Friday, the day after quarterly sales and earnings topped analyst estimates.

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