16.2.2021 | Amazon’s CEO and Co-founder Jeff Bezos will be stepping down in third quarter of 2021
Amazon has announced that CEO and founder Jeff Bezos will resign from his position during the third quarter of 2021, and will transition to executive chair of Amazon’s board. In his place, Amazon Web Services (AWS) CEO Andy Jassy will replace Bezos according to CNBC.
Jeff Bezos has originally founded Amazon in 1994, growing what began as an online bookstore into a massive online retailer which competes in numerous sectors, including food delivery, technology, movie and television streaming. Amazon passed a $1 trillion market cap in 2020 under Bezos' leadership.
Jassy joined Amazon in 1997. He has directed work on Amazon Web Services since its launch in 2006. AWS provides a wide variety of cloud computing and API services to individuals and companies, including data storage, networking, developer tools, and more. AWS accounted for 52% of Amazon's operating income in October 2020.