Jeff Bezos will step down as Amazon's CEO in July.
Bezos announced the move in a Tuesday email to Amazon employees.
Andy Jassy, who currently runs the company’s Amazon Web Services (AWS) division, will take over as CEO.
The 57-year-old Bezos, who founded Amazon as an online book retailer in 1994, will become executive chair of the company’s board of directors.
“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 wrote. “In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives.”
In the email, Bezos said he wanted to focus more on his passion projects and less on the day-to-day operations of one of the world’s largest companies.
“Being the CEO of Amazon is a deep responsibility, and it’s consuming. When you have a responsibility like that, it’s hard to put attention on anything else,” he wrote. “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.”
Bezos net worth of $157 Billion was surpassed by Elon Musk as the world’s documented richest person in January.
Amazon recently found themselves at the center of a possible "anti-trust" situation when it colluded with Google and Apple to de-platform popular conservative social media platform - Parler. Parler was accused of harboring Trump supporters that were thought by the liberal MSM to be "domestic terrorist" after a handful of people entered the capitol following a Trump rally in Washington DC.
Citizen First Staff