Jeff Bezos steps down as head of Amazon

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

According to Bezos, hewill 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 –a huge responsibility, it is very difficult to switch your attention to something else. As Executive Chairman, I will be involved in all of Amaon's important initiatives, but will also be able to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions. I've never had so much energy and I'm definitely not retiring.

Immediately after Jassi takes office, he will have to solve many problems faced by the company – lawsuits against Amazon and antimonopoly committee charges.

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