Why Is Jeff Bezos Stepping Down As Amazon CEO? Read Here

New York: Jeff Bezos is stepping down as Amazon CEO. The 57-year American, who became the world’s first person to amass a $200 billion-plus fortune in August 2020, founded Amazon as an online bookstore and developed it into a shopping and entertainment behemoth.

So why is he relinquishing his post and where is he going?

As the company made it clear, he’s going nowhere.

Having served in the role of CEO for nearly 30 years, Bezos will now become executive chairman of the company during summer.

“Jeff is really not going anywhere. It’s more of a restructuring of who’s doing what,” Amazon’s Chief Financial Officer Brian Olsavsky told reporters.

Bezos will be replaced by 53-year-old Andy Jassy, who joined Amazon in 1997 and currently runs their cloud-computing business.

Also Read: Jeff Bezos Becomes World’s First To Amass $200 Billion+ Fortune