After 27 years of helming Amazon, founder and CEO Jeff Bezos recently announced his decision to hand over the reins to Andy Jassy. Although Bezos will continue as the executive chairman and largest shareholder in the company, letting go of a senior position in a firm that one has had a long association with isn’t easy. “Bezos’ identity, net worth and legacy are tied in with the company,” points out Rishi Piparaiya, a leadership mentor who has held C-suite positions in financial institutions. Relinquishing this position to a successor can pose significant challenges, he adds, alluding to the infamous ousting of Steve Jobs from Apple in 1985, after a long power struggle with the company’s board and then CEO John Scully.

Jeff Bezos