Science & Technology
Jeff Bezos steps down as CEO of Amazon
Jeff Bezos has announced he will step down as CEO of Amazon, the largest online retailer in the world.
Bezos is ending his role as CEO on a high note: the business he began as an internet bookseller 27 years ago is now one of the world’s most valuable companies and posted three consecutive record profits after losses in decades prior.
Fox News reported that Bezos will transition to a role as Amazon’s executive chairman of the board during the company’s third fiscal quarter. The company did not provide an exact date for the change.
Andy Jassy, currently the CEO of Amazon’s highly profitable cloud computing wing, will replace Bezos as CEO. He started in Amazon’s marketing department in 1997.
On Tuesday, Amazon reported quarterly sales above $100 billion for the first time, Reuters reported.
