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Bezos stepping down, Jassy named next Amazon CEO

Amazon founder Jeff Bezos will step down as the CEO of the company later this year. He will take over as the executive chairman in the third quarter of this year. As per information,  the head of Amazon’s cloud division Amazon Web Services (AWS) Andy Jassy will take over as the new CEO of Amazon. Bezos informed his employees about his decision to step down as the CEO through an email.The world's richest person based on his Amazon stake, Bezos said he will transition to the role of executive chair in the third quarter.

In a letter to Amazon employees, Bezos said he would "stay engaged in important Amazon initiatives" but would pivot towards philanthropic initiatives, including his Day One Fund and Bezos Earth Fund, and other business ventures in space exploration and journalism. "I've never had more energy, and this isn't about retiring," Bezos wrote."I'm super passionate about the impact I think these organizations can have." Bezos, 57, founded Amazon in his garage in 1994 and went on to grow it into a colossus that dominates online retail, with operations in streaming music and television, groceries, cloud computing, robotics, artificial intelligence and more.His other businesses include The Washington Post newspaper and the private space firm Blue Origin.

In September last year, Jeff Bezos topped Forbes' list of richest Americans for the third year in a row. His net worth now crossed $202 billion after an increase of $5.22 billion in a single day. However this year, Tesla supremo Elon Musk toppled Bezos to become the richest person in the world. Elon Musk's net worth now surpassed $195 billion and Bezos stood at 185 billion. Google CEO Sundar Pichai on Wednesday congratulated Jeff Bezos and his successor Andy Jassy on their new roles after the Amazon founder announced his decision to stand aside later this year as chief executive of the company.

 

 

 

 

 


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