NEW YORK (AP) — Amazon said Tuesday that Jeff Bezos is stepping down as CEO later this year, a role he’s had since he founded the company nearly 30 years ago.
Bezos founded Amazon as an online bookstore and turned it into a behemoth that sells just about everything. In the process, he became one of the world’s richest people.
He will become executive chairman, a move he said would give him “time and energy” to focus on his other ventures.
Mr Bezos, the world’s richest man, will be replaced by Andy Jassy, who currently leads Amazon’s cloud computing business.
The change will take place in the second half of 2021, the company said.
“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,” he said in an letter to Amazon staffon Tuesday,
“I’ve never had more energy, and this isn’t about retiring. I’m super passionate about the impact I think these organizations can have.”