Amazon CEO Jeff Bezos Is Stepping Down

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Posted: Feb 02, 2021 4:40 PM
Amazon CEO Jeff Bezos Is Stepping Down

Source: AP Photo/Ted S. Warren

The behemoth that is Amazon is getting a new CEO this summer. Jeff Bezos is taking a step back from the company he founded nearly 30 years ago. It’s not immediate. Bezos won’t be handing the conning tower over just yet. That will be in a few months, but he’s picked a successor in Andy Jassy (via NBC News):

Jeff Bezos said Tuesday that he will step down as chief executive of Amazon, leaving the helm of the company he founded 27 years ago.

Bezos will transition to the role of executive chair in the third quarter of this year, the company said. Andy Jassy, the chief executive of Amazon Web Services, will take over as CEO of Amazon.

In a memo to employees, 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."

In a statement, Bezos called it "an optimal time for this transition.”

Look, I can see why Bezos decided to leave. I mean, when your company has grown to the size that it has, and seeing that it made $100 billion in the last quarter alone, you can let it go. Or in this case, say, "I’m stepping down…to take a new position as Amazon’s executive chairman." Yeah, he’s still going to be running things, just not bogged down with the other stuff. It’s good to be king — that’s all I’ll say.

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