Amazon CEO Jeff Bezos is stepping down from the role of CEO and will transition over to a new position at the company as executive chair of the Amazon Board in Q3. Replacing him as Amazon’s new CEO will be Andy Jassy, who currently serves as CEO of Amazon Web Services (AWS).
“Being the CEO of Amazon is a deep responsibility, and it’s consuming. When you have a responsibility like that, it’s hard to put attention on anything else,” commented Bezos in a email announcing the change. “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.”
Bezos has served as Amazon’s CEO since he founded the company in 1994, and has presided over the commerce giant
Under Bezos’ stewardship, Amazon has come to rule over internet commerce, established itself as a backbone of the infrastructure of the modern web through its Amazon Web Services products, built a subscription empire around its Amazon Prime services, launched popular technology products like the Amazon Echo and Amazon Kindle lines of devices, and even begun to dabble in physical retail through grocery stores and an acquisition of Whole Foods.