Article image Jeff Bezos stepping down as CEO of Amazon

Article image Jeff Bezos stepping down as CEO of Amazon”

Bezos will move to his new role within the company in Q3 2021.

Jeff Bezos, the founder and Chief Executive of, Inc., is to step down and transition to the role of Executive Chair later this year. I've never had more energy, and this isn't about retiring.

"Amazon is what it is because of invention", Mr. Bezos said of the quarter.

"Amazon's size makes some industries uncomfortable, some governments uncomfortable, and Andy Jassy will have to deal with the consequences", Anderson said.

More news: Nike Is Releasing 'Hands-Free' Shoes This Month

In a letter to employees, Bezos says he will be replaced in the fall by Andy Jassy, who runs Amazon's cloud-computing business. He's worth roughly $188 billion making him the second richest person in the world, just behind Elon Musk ($190 billion), according to Bloomberg Billionaires Index. The company also offers streaming services through Prime Video, Amazon Music, Twitch and Audible.

Though he'll leave the top position at the company he founded 27 years ago, Bezos said in a statement that he'll still focus on other projects he owns, like the Day 1 and Bezos Earth Funds, Blue Origin, and The Washington Post. Bezos quickly determined that an online bookstore would resonate with consumers. For the full year 2020, Amazon reported a net income of $21.3 billion on revenues of $386.1 billion, an also-incredible 38 percent gain YOY. The Seattle-based company has a market capitalization of almost $1.7 trillion. Musk recently leapfrogged Bezos amid a surge in Tesla's share price.

A lot has changed in Bezos' personal life since divorcing his wife in 2019 and going public with his relationship with former Fox news presenter Lauren Sanchez. Costs related to COVID-19, which include lost productivity due to social distancing as well as stepped up cleaning throughout its warehouses and shipping centers, will add US$2 billion to expenses in the current quarter, Amazon said.

Bezos' riches have also swelled: His stake in Amazon is now worth about $180 billion.

Like this



03 February 2021
Trump's new impeachment team signals aggressive defence
Capitol police officers in riot gear push back demonstrators who try to break a door of the US Capitol on Jan 6. Biden, the victor of the presidential election", the brief said.

03 February 2021
Ancient mummies with golden tongues unearthed in Egypt
The gilded decorations on the cartonnage around a second mummy's head depicted a crown, horns and a cobra snake, she added. The skeleton with the gold tongue was found to be well-preserved, as its skull and most of its structure is still intact.

02 February 2021
Domestic COVID-19 vaccine production to begin by end of year; Trudeau
The announcements could help Trudeau tamp down the political headache caused by Canada's skeletal vaccine production capacity. However, the trials that led to those vaccines being approved were completed before the variants had been identified.

02 February 2021
Cadillac CT4-V Blackwing Price Undercuts BMW M3
It offers a 3D-printed gear shifter, leatherette upholstery, heated front seats, and a multifunctional power steering wheel. Cross-drilled carbon-ceramic discs are available as an option on the CT5-V, saving a total of 24kg of unsprung mass.

02 February 2021
5 children, 1 adult killed in Oklahoma shooting
The wounded child and woman were taken by helicopter to a Tulsa hospital, where the child was pronounced dead, Hamlin said. Officers responded to a call at about 1:30 a.m. of a multiple shooting at the home, police said in a press release.

02 February 2021
After GameStop, 'Reddit riot' raises silver prices
Last week , broad anxiety over the consequences of the market chaos and worrying economic data fueled widespread losses. The S&P 500 climbed 44 points, or almost 1.2 percent, while the tech-heavy Nasdaq added 172 points or 1.2 percent.

02 February 2021
'Saved By The Bell' star Dustin Diamond dies at 44
In this time, he managed to quickly spread throughout his system; the only mercy he showed was his clean and swift execution. Engel even recalled how Diamond made him "ruined" multiple episodes of the show when they were shooting in Hawaii.

02 February 2021
Victorious return for Casey in Dubai as Harrington finishes tied for sixth
The top continental men's golf circuit, for the second consecutive week (in as many New Year tournaments), speaks English. The history of this tournament is unbelievable and the list of winners is basically a Who's Who in world golf.

02 February 2021
US Democrats file budget resolution for Covid-19 relief
Republicans are proposing the full $1,000 checks for individuals earning above $50,000 and couples earning about $100,000. Once both the House and Senate pass the resolutions, the committees can get to work on the reconciliation bill.

02 February 2021
Hollywood Sign Briefly Read 'HOLLYBOOB'
The arrestees were not publicly identified and could not be immediately reached for comment Monday. In 1987, some Caltech students changed it to read the name of their University.