Jeff Bezos stepping down as Amazon CEO, Andy Jassy to take over

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Bezos (57) who founded the Amazon in 1994 is not leaving the company and will become the executive chair of Amazon’s board after the company recorded $100bn in sales for last three months of 2020. Bezos has stepped back from the day-to-day running of Amazon in recent years to pay more attention to his other interests, including space exploration and his ownership of the Washington Post. But his departure as chief executive was unexpected.

Mardi 2 février 2021 ((rezonodwes.com))–Amazon announced Tuesday that Amazon Web Services (AWS) CEO Andy Jassy, 52, will replace Jeff Bezos as CEO of Amazon in the third quarter of 2021, according to CNBC.

The Amazon founder explained his decision in a letter to employees, indicating that he wanted to free up his attention for his other ventures, including The Washington Post, his spaceship company Blue Origin and the Bezos Day One Fund, which funds organizations fighting homelessness and is attempting to create high-quality pre-schools for low-income communities.

Bezos said in his letter, « Being the CEO of Amazon is a deep responsibility, and it’s consuming. When you have a responsibility like that, it’s hard to put attention on anything else, » adding that he’s not retiring and that Amazon is well-positioned going into the future.

Bezos founded Amazon in 1994 as an online bookstore and Jassy joined the company in 1997. Jassy has led AWS, Amazon’s cloud business arm, since its creation in 2003 and was named CEO in 2016, according to The Verge. AWS continues to drive a large chunk of Amazon’s profit, CNBC reports.

Read the full letter from Bezos below, via CNBC.

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