Jeff Bezos steps down from CEO to executive chair

Amazon announced Tuesday that Jeff Bezos would step down from CEO to executive chair, leaving a role he’s had since founding the company nearly 30 years ago. Bezos will be replaced by Andy Jassy, who currently leads Amazon’s cloud computing business. Mr. Jassy has been with the company since 1997, helped develop growing Amazon’s cloud segment Amazon Web Services.

Bezos in a letter to Amazon’s staff said:” Being the CEO of Amazon is a deep responsibility,  and it’s consuming. When you have a responsibility like that, it’s hard to put attention on anything else.” Regarding Andy Jassy, Bezos said: “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.”

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