Meet Andy Jassy, the new Amazon CEO who will now oversee the empire built by Jeff Bezos

New Amazon CEO, Andy Jassy. Image: Amazon[/caption]Jeff Bezos will remain the executive chairman of the board and will focus on his other passions including Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and more. Bezos is also scheduled to travel to space on 20 July as his company Blue Origin is launching its first passenger-carrying mission.

Who is Andy Jassy?

Challenges that Andy Jassy should be ready to face

Currently, Amazon is facing a lot of backlash and threat of regulatory action to control its dominance in the markets worldwide. Increasing antitrust pressure in the US is one of the major challenges that Jassy will have to face in the near future while heading the company that has over 1.3 million employees. He will also have to keep exploring new territories while handling the fierce competition in the market.Natalie Berg, a retail analyst and co-author of Amazon: How the World’s Most Relentless Retailer Will Continue to Revolutionise Commerce told  The Guardian, “There is a risk of going from disruptor to disrupted. There is a challenge to innovate at scale and maintain agility and culture that’s allowed them to be as nimble as they have been. There are a lot of other disruptive businesses coming in. Fifteen-minute supermarkets like Weezy make Amazon look like a laggard."As per a report by The Verge, at a virtual event held in December last year, Jassy said, "It’s really hard to build a business that sustains for a long period of time. To do it, you’re going to reinvent yourself, and often you’re going to have to reinvent yourself many times over. Typically, what you see is the desperate kind of reinvention — companies on the verge of falling apart or going bankrupt, deciding they have to reinvent themselves. When you wait until that point, it’s a crapshoot whether you’re going to be successful or not. You want to be reinventing when you’re healthy. You want to be reinventing all the time.”