World’s second richest man and Amazon CEO, Jeff Bezos, has announced on Tuesday,he will be leaving his position later this year, turning over the reigns to the company’s longtime cloud-computing boss Andy Jassy.
Bezos said in a letter to his employees, “I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO.
“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, who also owns The Washington Post, will transition to the role of executive chair in the first quarter of 2021, the company said Tuesday. The looming transition marks the most radical shake-up in Amazon’s corporate ranks in its nearly 30-year history.
Under Bezos’s stewardship, Amazon evolved from an upstart online bookseller into one of the world’s most popular Internet marketplaces able to quickly deliver a vast catalogue of products and services.
Bezos, who turned 57 last month set up the transition to Jassy last summer, when the company announced that one of his possible successors, Jeff Wilke, would soon retire. That paved the way for Andy Jassy to take the CEO job.
Jassy joined Amazon in 1997 and has led Amazon’s Web Services cloud team since its inception. AWS continues to drive much of Amazon’s profit.