Amazon founder Jeff Bezos, 57, has announced that he will be stepping down as the Chief Executive Officer (CEO) of the e-commerce giant later this year, handing over the reins of the company to Andy Jassy, who currently heads Amazon Web Services (AWS), the company’s cloud computing platform. Jassy, who has been with Amazon since 1997, has been instrumental in making AWS the company’s profit engine.
In a memo addressing all Amazon employees, Jeff Bezos said this move would allow him “the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions”.
Here is some part of text of Jeff Bezos’ email to Amazon employees:
Fellow Amazonians,
“I am 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.
I do not know of another company with an invention track record as good as Amazon’s, and I believe we are at our most inventive right now. I hope you are as proud of our inventiveness as I am. I think you should be.
As much as I still tap dance into the office, I am excited about this transition. Millions of customers depend on us for our services, and more than a million employees depend on us for their livelihoods. Being the CEO of Amazon is a deep responsibility, and it is consuming. When you have a responsibility like that, it is hard to put attention on anything else.
As Exec Chair I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions.” Google CEO Sundar Pichai on Wednesday congratulated Jeff Bezos and his successor Andy Jassy on their new roles after the Amazon founder announced his decision to stand aside later this year as chief executive of the company.
