Amazon Founder Jeff Bezos will Step Down as CEO, Andy Jassy Gets Responsibility

Amazon founder Jeff Bezos

Jeff Bezos, the founder and owner of e-commerce company Amazon, has decided to step down as the CEO of the company. He will resign as CEO later this year. He is replaced by Andy Jassy. Andy currently heads Amazon’s web services. Bezos made the announcement in this regard on Tuesday. Amazon Founder has held the position of CEO for nearly 30 years.

In a blog post written for employees, Bezos said he will now focus on new products and early initiatives being developed at Amazon. Bezos started Amazon as a startup. It was launched in 1995 and today it ranks among the largest e-commerce companies in the world. Jeff Bezos, 57, said he would now focus on his welfare schemes such as his One Day Fund and Bezos Earth Fund, as well as other business ventures including space exploration.

Bezos wrote in his letter, “I am pleased to say that I am being made executive chairman of the Amazon board and Andy Jessie as CEO.” I have full confidence in Andy Jessie that he will prove to be a good leader. It may be noted that Amazon has released its financial results for the fourth quarter ended December 31, 2020. The company made $ 100 billion in sales in the last three months of 2020.

Bezos was interested in computers from the beginning when he was a child and earned degrees in electrical engineering and computer science from Princeton University and then worked at several Wall Street companies.

Amazon now produces films, makes sofas, has its own grocery chain and also plans to send satellites into space. During the Corona epidemic, Amazon was one of the few retailers that benefited online booking buyers. Because shops and malls were closed, customers used to book online.