Breaking News: Amazon Ceo Jeff Bezos Stepping Down 2/2/21

Jeff Bezos to step down as Amazon CEO, Andy Jassy to take over in Q3

Jeff Bezos announced as expected that he will be stepping down as CEO in the third quarter of 2021 and serve as executive chair instead.The first centi-billionaire on the Forbes wealth index, he is the second richest person in the world since January 2021, after Elon Musk.

Bezos was named the “richest man in modern history” after his net worth increased to $150 billion in July 2018. According to Forbes, he is the first person in history to have a net worth exceeding $200 billion.

Jeff Bezos founded e-commerce colossus Amazon in 1994 out of his garage in Seattle. The news came as part of Amazon’s fourth-quarter earnings report. The company handily beat Wall Street analysts’ projections for both sales and profit, capping a banner year as the pandemic boosted both its retail and cloud businesses.(cnn)

Read the FULL announcement:

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.

This journey began some 27 years ago. Amazon was only an idea, and it had no name. The question I was asked most frequently at that time was, “What’s the internet?”