Amazon CEO Jeff Bezos to Step Down

Image sourced from NBC News

Founder and CEO of Amazon, Jeff Bezos has revealed that he will step down from his role in Q3 of this year. He is expected to transition to Executive Chair of the Amazon Board while Andy Jassy will become CEO.

“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,” writes Bezos.

Amazon began as an idea some 27 years ago. Today, it employs 1.3 million dedicated people, serves hundreds of millions of customers and businesses, and are widely recognized as one of the most successful companies in the world.

“As Amazon became large, we decided to use our scale and scope to lead on important social issues. Two high-impact examples: our $15 minimum wage and the Climate Pledge. In both cases, we staked out leadership positions and then asked others to come along with us. In both cases, it’s working. Other large companies are coming our way.”

Bezos goes on to say that as Executive Chair, he will be engaged in important Amazon initiatives but now he will also have the time and energy to need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and other passions.

“I’ve never had more energy, and this isn’t about retiring. I’m super passionate about the impact I think these organizations can have.”

Edited by Jenna Delport
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