March 4, 2021

Jeff Bezos steps down as head of Amazon

Jeff Bezos steps down as head of Amazon

Amazon founder Jeff Bezos will step down as CEO of the company.

According to Bezos, he will take over as executive chairman of Amazon, and Andy Yassi will take over as CEO.

In an open letter, Jeff Bezos wrote:

Our story began 27 years ago.Amazon was just an idea back then. Today we have 1.3 million talented people, serve millions of clients and are recognized as one of the most successful companies in the world.

He stated that he could “better focus on new products and other initiatives”:

Being the CEO of Amazon is hugeresponsibility, it is very difficult to switch your attention to something else. As executive chairman, I will be involved in all the important Amaon initiatives, but I will be able to focus on Day 1, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other hobbies. I've never had so much energy before, and I'm definitely not retiring.

Immediately after Yassi takes office, he will have to solve many of the problems that the company faced - lawsuits against Amazon and charges of the antitrust committee.

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