World’s richest man Jeff Bezos, 57, steps down as Amazon CEO
- Bezos told staff he will become Executive Chair in the third quarter of this year
- He founded Amazon with his ex-wife MacKenzie Bezos in 1993
- The company is now worth $1.7trillion and Bezos is the 2nd richest man in the world after Elon Musk
- He will be replaced by Andy Jassy who currently CEO of Amazon Web Services
Jeff Bezos is stepping down as the CEO of Amazon, the company announced on Tuesday.
Bezos will be replaced by Andy Jassy, who currently serves as the CEO of Amazon Web Services.
Bezos will move to the role of Executive Chair in the third quarter of this year, he said, to ‘focus on new products and early initiatives’.
In an email to staff, Bezos said: ‘Fellow Amazonians,
‘I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO.
Bezos will be replaced by Andy Jassy. He will move to the role of Executive Chair, the company said
Bezos will be replaced by Amazon Web Services CEO, Andy Jassy
‘In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives.
”Andy is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader and he has my full confidence.’
Bezos founded Amazon in 1993 with his ex-wife MacKenzie.
It made him the richest man in the world with a net worth of $188billion.
Amazon’s share price went up by 1.1 percent after the announcement but were not dramatically changed.
Amazon shares were largely unaffected at the time of the announcement on Tuesday afternoon