By Temi Joshua
The founder and chief executive officer of Amazon, Jeff Bezos, will stepdown as CEO of the company and transit into the role of executive chairman, the company announced Tuesday.
According to a statement released by the company, Andy Jassy, the chief executive of Amazon’s cloud computing division, will be the new CEO of Amazon.
In a memo to employees, Bezos said “In the Exec Chair role, I intend to focus my energies and attention on new products (the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions) and early initiatives.”
As of today, Amazon has employed 1.3 million talented, dedicated people, served hundreds of millions of customers and businesses.
The company is widely recognized as one of the most successful companies in the world.
Explaining the secret to the company’s success, Jeff Bezos said that invention is the root of their success.
“Right now I see Amazon at its most inventive ever, making it an optimal time for this transition,” Mr. Bezos added.
Jeff Bezos who founded Amazon 27 years ago, is expected to step down as CEO in the third quarter of 2021 and serve as executive chair instead.