Jeff Bezos Will Step Down as Amazon CEO.
Amazon founder Jeff Bezos announced the transition in a letter to employees.
Amazon Web Services (AWS) CEO Andy Jassy will take over as Amazon CEO beginning in the third quarter of this year.
I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO, Jeff Bezos, Letter to Employees, via CNBC.
Jeff Bezos will remain in the company as executive chair of Amazon's board.
I intend to focus my energies and attention on new products and early initiatives, Jeff Bezos, Letter to Employees, via CNBC.
The news sent shockwaves across Wall Street, with a 1.5 percent drop in Amazon shares.
Bezos founded Amazon in 1994.
The company is now one of only six in the world to be worth more than $1 trillion.
Bezos' net worth is an estimated $182 billion.
He is the second richest person in the world.
Jassy has been with Amazon since 1997, leading the cloud team since its beginning