Insider CEO comments on Jeff Bezos’ astounding career and accomplishments

Jeff Bezos will officially step down as the CEO of Amazon.com Inc (NASDAQ: AMZN) on July 5^th – an event that many would call an end of an era.

Bezos started a company in 1994 that evolved from an online book store to a technology giant that today provides a backbone to the entire worldwide web.

Henry Blodget lauds Amazon’s business model

Commenting on his legacy, CEO Henry Blodget of Insider Inc said on CNBC’s “Squawk Box”:

Henry lauded Amazon’s unique business model and its bold, confident, and disciplined decision to reinvest everything into growth for years before shifting focus to cash flow generation. It enabled Amazon to evolve at a rate that companies with a strict emphasis on a huge bottom line only can never match.  

Andy Jassy to take over as Amazon’s CEO

Henry described Bezos as ‘smart, bold, and wise with huge tolerance for criticism and failures” during his interview with CNBC. Shares of the company opened more than 0.5% up on Friday. The $1.74 trillion has a price to earnings ratio of 65.73.

Amazon’s cloud-computing boss, Andy Jassy, will fill the shoes for Jeff Bezos as the company’s chief executive from next week. Bezos will remain the executive chairman of Amazon’s board.