Jeff Bezos will step down as the CEO of Amazon while heis most likely to be replaced by Andy Jassy. Bezos has been the CEO of Amazonsince he founded the company 30 years ago.
Andy Jassy currently runs the cloud business of Amazonand he will replace Bezos in fall of 2021. Bezos, after relinquishing hisposition will become the executive chairman of the Seattle based company.
Whois Andy Jassy?
Jassy joined Amazon after his exam of MBA at HarvardBusiness School in 1997. Jassy is at the helm of Amazon's Web Services (AWS)since he founded the platform in 2006. Amazon is the dominant cloud provider inthe world as per various reports.
WhyBezos is stepping down?
Bezos, as per reports wishes to give attention to hisphilanthropic works. He will look after his space and media projects. After hebought Washington Post, he has been a hands-off owner. He purchased WashingtonPost for $250 million.
In a letter written to the employees, Bezos said, "I'venever had more energy, and this isn't about retiring." Bezos, now 57 yearsold, founded the company as an online bookstore but now the company hasextended to many ventures.
"I will stay engaged in important Amazoninitiatives but also have the time and energy I need to focus on the Day 1Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and myother passions," Bezos added in his letter as an Executive Chair of thecompany.