Jeff Bezos Stepping Down as CEO of Amazon

Jeff Bezos Stepping Down as CEO of Amazon

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In a surprising turn of events on Tuesday, Amazon Inc announced that Jeff Bezos, the founder of the world’s largest e-commerce giant, Amazon, will step down as its chief executive.


This announcement is the most radical change the company has seen in its over a 30-year long history. Andy Jassy, the company’s longtime head of the cloud-computing division, is all set to succeed Bezos in this role.

Under Jassy’s supervision, Amazon’s quarterly revenue doubled, and the cloud signed some big customers, including Verizon, McDonald’s and Honeywell.

Bezos, who started this company almost 27 years ago, is reportedly to move into a new position of executive share where he will be more focused on the company’s innovation side.

“If you do it right, a few years after a surprising invention, the new thing has become normal. People yawn. That yawn is the greatest compliment an inventor can receive,” he said in his statement.

Amazon evolved into the world’s largest and most popular Internet marketplace where people can shop from electronics to car parts. Amazon has triggered a massive change in how people shop, nearly destroyed the concept of shopping malls. The transition towards online shopping can be noticed during this Novel Coronavirus Pandemic.


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