Jeff Bezos Announces He Will Step Down as CEO of Amazon
Jeff Bezos, who founded Amazon and turned it into an online shopping behemoth, is stepping down as the company’s CEO, a position he’s held for nearly 30 years.
He’ll be replaced in the fall by Andy Jassy, who runs Amazon’s internet computing business. Bezos, 57, will then become the company’s executive chair.
In a blog post to employees, Bezos said he plans to focus on new products and early initiatives being developed at Amazon.
He also said he’ll have more time for his space exploration company, Blue Origin; the newspaper he owns, The Washington Post; and his charities.
Launched in 1995, Amazon was a pioneer of fast and free shipping that is now used by millions of shoppers.
Under Bezos, Amazon also launched the first e-reader that gained mass popularity, and its Echo listening device made voice assistants a common sight in many living rooms.
Bezos got a degree in electrical engineering and computer science at Princeton University, and then worked at several Wall Street companies.
He quit his job to start an online retail business — though at first he wasn’t sure what to sell. Bezos quickly settled on an online bookstore.
He convinced his parents and some friends to invest in the idea, and Amazon began operating out of the Bezos’ Seattle garage on July 16, 1995.
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