Amazon CEO Jeff Bezos proclaims the co-founding of The Local weather Pledge on the Nationwide Press Membership on September 19, 2019, in Washington.

Jeff Bezos on Wednesday stewarded his final shareholder assembly as CEO of Amazon, highlighting the corporate’s successes within the earlier yr, whereas acknowledging it has many challenges forward.

Bezos announced he’ll formally step down from his position as CEO on July 5, which is the date Amazon was included 27 years in the past. He’ll transfer into the position of government chairman and hand the reins over to cloud-computing boss Andy Jassy, who Bezos assured traders is well-equipped for the duty.

“He has the very best of excessive requirements and I assure Andy won’t ever let the universe make us typical,” Bezos stated through the assembly, which was held just about for the second yr in a row, because of the coronavirus pandemic. “He has the vitality wanted to maintain alive in us what has made us particular.”

“Let me guarantee you, I can assure you that none of those concepts are assured to work,” Bezos stated. “All of them are gigantic investments they usually’re all dangers…The one solution to get above-average returns is to take dangers and plenty of will not repay. Our entire historical past as an organization is about taking dangers, a lot of which have failed and plenty of of which can fail, however we’ll proceed to take large dangers.”

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