Read more about Jeff Bezos to step down, hand over Amazon reins to cloud chief Andy Jassy on Business Standard. The announcement ends a long-running question about who would succeed the world s second-richest person at the company s helm
Jeff Bezos gives up CEO post in Amazon and passes the torch to Andy Jassy
Photo by: JD Lasica/Flickr (CC BY 2.0) Wednesday, February 3, 2021 6:28 AM UTC
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The announcement names the new Amazon CEO
Jeff Bezos said that as he leaves the CEO post, he will be transitioning as Amazon’s executive chair in the third quarter of 2021. He will be replaced by Amazon Web Services’ chief Andy Jassy.
The billionaire announced the change of his title on Feb. 2, and he did this by sending an email to his employees. The note was also published on Amazon’s own website on the same day.
Colin Young-Wolff/AWS
When Andy Jassy takes over as Amazon’s new CEO later this year, he will not only be helming one of the world’s most valuable companies but also stepping into the shoes of one of history’s most successful tycoons.
Jeff Bezos announced yesterday that he will be handing over the reins to Jassy in Q3 2021 in order to transition to a new role as executive chair of the Amazon Board.
In an email to staff, the Amazon founder said: “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.”
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