Why World’s Richest Man Jeff Bezos Is Stepping Down As Amazon CEO
-Billionaire and Amazon founder, Jeff Bezos is set to step down from his role as the Chief Executive Officer of the company.
-The world’s richest man will be replaced by Andy Janssy
-Bezos will be acting as the Executive Chairman of the company while focusing on other duties
Amazon founder and World’s richest man, Jeff Bezos will be stepping down from his role as the Chief Executive Officer at Amazon.
Bezos will now become the Executive Chairman of the company. This move will provide him time to venture into other activities.
Andy Jassen will replace the Amazon founder as CEO after previously heading the company’s cloud computing business.
The change will be effective from the second half of the year, as relayed by the company.
In a letter to the Amazon staff, Bezos revealed that he is not retiring but will seize the opportunity to focus on other passions.
Some of the other areas Bezos will become more active in include Bezos Earth Fund, Blue Origin, The Washington Post.
Jeff Bezos, 57 founded Amazon in 1994. Since then, the fast growth of the company has led him to amass a wealth of $196.2 billion.
Although Bezos’s decision to step down as CEO came as a shock, investors are not worried as there has been little change in the company’s share price.
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