Jeff Bezos to step down as Amazon CEO, Andy Jassy to take over

Jeff Bezos to step down as Amazon CEO, Andy Jassy to take over

1 min


88
17 shares, 88 points

Amazon CEO Jeff Bezos will leave his post later this year, turning the helm over to the company’s top cloud executive, Andy Jassy, according to an announcement Tuesday. Bezos will transition to executive chairman of Amazon’s board.

Bezos, 57, founded Amazon in 1994 and has since morphed the one-time online bookstore into a mega-retailer with global reach in a slew of different categories from gadgets to groceries to streaming. Amazon surpassed a $1 trillion market cap under Bezos’ leadership in January of last year — it’s now worth more than $1.6 trillion.

The company had kept its succession plans quiet, though onlookers speculated that either Jassy or Jeff Wilke, CEO of Amazon’s worldwide consumer business, would be Bezos’ eventual successor. In August Amazon announced Wilke will retire in 2021. Jassy, 53, will become CEO in the third quarter.

Jassy joined Amazon in 1997 and has led Amazon’s Web Services cloud team since its inception. AWS continues to drive much of Amazon’s profit.

“I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO,” Bezos said in a letter to employees. “In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives. Andy is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader, and he has my full confidence.”


Like it? Share with your friends!

88
17 shares, 88 points

What's Your Reaction?

hate hate
2
hate
confused confused
16
confused
fail fail
9
fail
fun fun
7
fun
geeky geeky
4
geeky
love love
21
love
lol lol
23
lol
omg omg
16
omg
win win
9
win

0 Comments

Your email address will not be published. Required fields are marked *