Amazon Founder Jeff Bezos To Step Down As Company’s CEO | Forbes

Amazon founder Jeff Bezos will step down as CEO during the third quarter, the company announced Tuesday—a surprise announcement after a blockbuster year in which Amazon’s stock soared 67% thanks to massive shifts in the retail landscape during the coronavirus pandemic.

Bezos will transition into the role of executive chair of Amazon’s board and will be replaced as CEO by Amazon Web Services chief Andy Jassy, the company said.

In a Tuesday letter to employees, Bezos said he plans to focus on “the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions.”

Read the full profile on Forbes: https://www.forbes.com/sites/sarahhansen/2021/02/02/jeff-bezos-to-step-down-as-amazon-ceo/?sh=2e1017b71e5d

Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1

Stay Connected
Forbes newsletters: https://newsletters.editorial.forbes.com
Forbes on Facebook: http://fb.com/forbes
Forbes Video on Twitter: http://www.twitter.com/forbes
Forbes Video on Instagram: http://instagram.com/forbes
More From Forbes: http://forbes.com

Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.