Amazon founder Jeff Bezos has stunned staff at the e-commerce company by announcing he is stepping down as CEO.
Bezos, the second richest man in the world, founded the company 27 years ago and announced his decision in a letter to employees on Tuesday (February 2, 2021).
He revealed the switch will take place in the third quarter of 2021, when Amazon Web Services CEO, Andy Jassy, will take over.
Bezos will become the executive chair of Amazon’s board.
“I intend to focus my energies and attention on new products and early initiatives,” Bezos stated in the leaked letter. “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.
“As much as I still tap dance into the office, I’m excited about this transition.”