Amazon Founder Jeff Bezos To Step Down as CEO in Q3 of 2021

Amazon founder Jeff Bezos has confirmed that he will be stepping down as Amazon’s CEO later this year. Bezos, who started the company 27 years ago as an internet bookseller, revealed that it will step down as CEO in the third quarter of this year. He further added current Cloud Computing Chief Andy Jassy will become Amazon’s next chief executive officer. Bezos revealed this news via a letter to Amazon employees that was published Tuesday afternoon. Here’s what you need to know about the latest transition of Jeff Bezos to a new role.

Jeff Bezos To Step Down as Amazon’s CEO

Jeff Bezos confirmed this news via a letter to employees. He said that he will be transiting to Executive Chair of the Amazon Board. Furthermore, Andy Jassy who is currently the head of AWS will become the next CEO. “In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives. Andy is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader, and he has my full confidence,” Bezos said.

Bezos founded the company Amazon 27 years ago as an internet bookseller platform. However, today it employs 1.3 million people that serve hundreds of millions of customers and businesses. The company has been at the forefront of innovation like 1-Click, personalized recommendations, Prime’s insanely-fast shipping, Just Walk Out shopping, the Climate Pledge, Kindle, Alexa, marketplace, infrastructure cloud computing, Career Choice, and much more.

He further added that he will stay engaged in important Amazon initiatives. “ 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,” he added.

Andy Jassy joined Amazon in 1997, the same year when the company went public. He is said to be a close confidant of Bezos and has led Amazon’s cloud-computing business since 2003. Under his leadership, the AWS platform has managed to generate over $40 billion in annual revenue.

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