Bezos steps down as Amazon CEO, leads as executive chair
After running the multinational tech company for more than two decades, Amazon founder, Jeff Bezos is stepping down as the company’s CEO on what would be its 27th anniversary.
Bezos, who is currently Amazon’s biggest shareholder with a stake worth about $180 billion, will transition into his new role as executive chairman.
He disclosed: “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. As Exec Chair, I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions.”
Leading the company through its evolution from online bookseller to a $1.75 trillion global retail, logistics and internet behemoth, Bezos will be handing over his chief executive title to Andy Jassy.
Andy Jassy, joined the company shortly after graduating from Harvard Business School in 1997, and has led AWS since the team was founded in 2003. He was officially named the division’s CEO in 2016.
Earlier in February, the Amazon founder announced his plans to give up his role as the CEO so as to focus on other ventures, including the Bezos Climate Fund, the Washington Post and Blue Origin, his space flight company.
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