Jeff Bezos to step down as Amazon CEO, to be replaced by Andy Jassy.


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After leading the Amazon for 26 years as CEO, Jeff Bezos to step down later this year and transition to the role Executive Chair, of the company.
According to the press released by Amazon on February 2 2021, the world richest man will be replaced by Andrew R Jassy popularly called Andy Jassy.

Bezos has been Amazon’s CEO since it was founded in 1995 and grew the company from an online bookseller into a $1.7 trillion global retail and logistics leading brand.

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According to Wikipedia, Andrew R. Jassy is an American businessman who is the CEO of Amazon Web Services and he joined Amazon in 1997. He is also one of the minority owners of the Seattle Kraken of the National Hockey League. Jassy helped in the development of Amazon Web Services since its inceptions

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Bezos said in a letter to employees Tuesday that he is excited to take the next step.

“Being the CEO of Amazon is a deep responsibility, and it’s consuming,” Bezos wrote. 

“When you have a responsibility like that, it’s hard to put attention on anything else. 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. I’ve never had more energy, and this isn’t about retiring. I’m super passionate about the impact I think these organizations can have.”

The news came as part of Amazon’s fourth-quarter earnings report. 

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The company’s stock has grown nearly 69% over the past year.

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