Jeff Bezos has spent a lot of time building Amazon into the company that has made him one of the richest men in the world, and he has just announced that he is stepping down as CEO of the company later this year.
In a letter to Amazon employees, Bezos reveals that he will be transitioning into the role of Executive Chair of the Amazon Board, hoping to dedicate more time to new products and initiatives.
“I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO,” Bezos wrote. “In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives.”
Bezos will be replaced by Amazon’s top cloud executive Andy Jassy.
“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 wrote.
Bezos added that he is excited to focus on the Bezos Earth Fund, his Blue Origin spaceship company, The Washington Post and the Amazon Day 1 Fund.
“As much as I still tap dance into the office, I’m excited about this transition,” he said. “Millions of customers depend on us for our services, and more than a million employees depend on us for their livelihoods. 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.”
The success of Amazon, in addition to Bezos’ other companies, has brought him an immense amount of wealth and has also helped him break some records! Back in August 2020, Jeff crossed a historic milestone by becoming the first person in history to be worth $200 billion.
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