Amazon founder Jeff Bezos has decided to step down as CEO of Amazon, the company he founded in garage nearly 27 years ago. He will now move to become executive chairman. Andy Jassy, who currently leads Amazon’s cloud computing business, will be the new CEO of the e-commerce giant.
Bezos has taken this step so he can focus on more ventures he owns. He has also made it clear that he is just leaving the CEO role. He still has enough energy to work for the next few years. This change in the management will take place in the second half of 2021.
“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,” Mr. Bezos said in a letter to Amazon staff on Tuesday.
“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 added.
Blue Origin is a space company Bezos founded in 2000. This company is the rival to Elon Musk’s SpaceX and aims to make space travel more accessible by using reusable launch systems. Day 1 Fund is a charity company that supports homeless families and fund educational opportunities.
