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Jeff Bezos to Step Down as Amazon CEO

Amazon founder and CEO Jeff Bezos will step down from his role as chief executive in the third quarter of 2021 and will transition to the role of executive chair, the company officially revealed on February 2, 2021 through a press release announcing the “Financial Results and CEO Transition.”

“Right now I see Amazon at its most inventive ever, making it an optimal time for this transition,” stated Jeff Bezos.

In Q3, the company also disclosed that Andy Jassy will be the Chief Executive Officer of the company. “I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO,” said the Amazon founder on an email addressed to his employees.

“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,” Bezos added.

In the same email, Bezos described being the CEO of Amazon as a deep responsibility and also made mention that it is consuming. “When you have a responsibility like that, it’s hard to put attention on anything else,” Jeff Bezos stated.

“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. I’ve never had more energy, and this isn’t about retiring.”

– Jeff Bezos

Related Article:

Tesla CEO Elon Musk Overtakes Amazon CEO Jeff Bezos, Musk Now the World’s Richest Person

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Source: Amazon| Press Release, Amazon| Letter from Jeff Bezos, Amazon News| Official Twitter

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