Amazon CEO, Jeff Bezos is stepping down and passing the CEO baton to Andy Jassy, the e-comm company has announced.
Bezos’ departure as CEO was announced on Tuesday and it was revealed that Andy Jassy would take over as the main man of the company the third quarter of 2021.
In the statement, Bezos said the transition will give him “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.”
Jeff Bezos founded Amazon in 1994 as an online bookstore, survived the dot-com bubble in the early 2000s, and built the company into one of the largest employers in the U.S. with a network of facilities touching almost every part of the country. Bezos is one of the world’s richest people, having recently been edged out of the top spot by Tesla CEO Elon Musk.