Amazon announced that its founder Jeff Bezos will step down as CEO later this year. He has been the CEO of Amazon since the company was founded about 30 years ago.
According to Amazon Jeff Bezos will be replaced by Andy Jassy who is at the moment looking after Amazon’s cloud business and Jeff Bezos will become Amazon’s executive chairman after that. Jeff is 57 years old.
Jeff Bezos started Amazon as an internet bookseller about 27 years ago. He wrote a note for his employee on Amazon’s website that ‘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 also said I’ve never had more energy, and this isn’t about retiring.
Amazon was launched by him in the year 1995 as a a pioneer of fast and free shipping that won millions of online shoppers who can buy just anything online using Amazon.