'This Isn't About Retiring:' Jeff Bezos

While reporting its financial results for the fourth quarter on Tuesday, Amazon said that Jeff Bezos will step down as Chief Executive Officer of the company and transition to the role of Executive Chair in the third quarter of 2021. Andy Jassy, who currently leads Amazon Web Services or AWS, will succeed Bezos and become only the second CEO of Amazon in the online retail giant's 27-year history.