Jeff Bezos To Step Down As Amazon CEO

World’s second richest man and the Chief Executive Officer of Amazon, Jeff Bezos, will step down from his role later in 2021, the e-commerce giant has said.

The multinational technology company said this on Tuesday following deliberations by its board.

Based on the resolution, Bezos will become executive chairman after he steps down as CEO.

Bezoz has been the CEO of the company since he founded it almost 30 years ago.

The Washington based company named Andy Jassy as his replacement.

Jassy who has been tipped to emerge as the new Amazon CEO currently runs Amazon’s cloud business.

Jassy has been with the company for nearly 24 years.

Bezos said, “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.

“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,” he added. “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.”