Jeff Bezos To Step Down As Amazon CEO Later This Year

Jeff Bezos

The famed founder and CEO of Amazon, Jeff Bezos, plans to step down later this year.

The announcement came directly from Amazon, on the same day that they reported their 4th quarter financial results.

Jeff Bezos will transition from CEO to Executive Chair in the third quarter of 2021.

Andy Jassy, who joined the company in 1997 and currently leads Amazon’s Web Services, will take over the role of CEO.

“Amazon is what it is because of invention. We do crazy things together and then make them normal. We pioneered customer reviews, 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,” said Jeff Bezos, Amazon founder and CEO.

“If you do it right, a few years after a surprising invention, the new thing has become normal. People yawn. That yawn is the greatest compliment an inventor can receive. When you look at our financial results, what you’re actually seeing are the long-run cumulative results of invention. Right now I see Amazon at its most inventive ever, making it an optimal time for this transition.”

Jeff Bezos founded Amazon in 1994 when it began as an online book shop. Which as we all know, has morphed into a massive online shop that sells and delivers to and from all over the world.

 

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