Amazon founder Jeff Bezos is stepping down as chief executive of the e-commerce and tech giant, elevating Andy Jassy, former head of the company’s web division, to the CEO position, making it one of the most high-profile executive swaps in years. But behind the scenes, more change has roiled the company with numerous executives departing in the last 18 months, many after working there for years. That’s unusual because many of Amazon’s top staffers started with the company in its earliest days, became wealthy via stock, and were considered loyal lifers. Continue reading Jeff Bezos Steps Down, Andy Jassy Is the New Amazon Boss

Amazon has opened a brick-and-mortar retail store, dubbed Amazon 4-star, in New York City’s Soho neighborhood. Amazon 4-star is so named because it will carry goods — starting off with consumer electronics, kitchen, home, toys, books and games — that shoppers have rated with at least four stars, are sold by top sellers or are “new and trending.” This physical retail store joins Amazon’s 12+ bookstores and a few cashierless Go convenience stores, as well as the Whole Foods grocery stores it acquired. Continue reading Amazon Unveils NYC Retail Store for 4+ Star Online Products

Amazon’s plan to open Amazon Go, a convenience store without a cashier, has suffered a setback. In beta since December, the first store was scheduled to open to the public by the end of March, but sources reported that there are problems with the technology used to automatically charge customers when they leave the store. Brick-and-mortar stores are key to Amazon’s desire to enter the food sales market in earnest. The company is also exploring the possibility of retail stores to sell furniture, appliances and other items. Continue reading Amazon Hits Roadblocks in Pursuit of Retail Grocery Business