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Jeff Bezos steps down as Amazon Chief Executive Officer, will focus on other ventures

By Arunika Swaroop

Amazon Chief Executive Officer Jeff Bezos will be stepping down from his position at the company after 25 years.

Andy Jassy, who is the head of Amazon Web Services, will be taking over the reins as CEO from the beginning of the third quarter. Bezos will become the executive chairman.

In a memo to its employees via Amazon’s blog, Bezos said that he will be giving up the CEO role to focus on other ventures. These include Bezos Climate Fund, The Washington Post, and Blue Origin.

“We’ve done crazy things together, and then made them normal,” Bezos wrote. He outlined a list of Amazon innovations: “Customer reviews, 1-Click, personalized recommendations, Prime’s insanely-fast shipping, Just Walk Out shopping, the Climate Pledge, Kindle, Alexa, marketplace, infrastructure cloud computing, Career Choice, and much more.”

Amazon’s share prices ticked down in after-hours trading, falling about 1% or $30.

Tags: Amazon Andy Jassy Jeff Bezos

Arunika Swaroop

Arunika Swaroop is a third-year journalism student at Delhi School of Journalism, University of Delhi. She aims at gaining knowledge through reading books, especially on psychology and politics, and is passionate about topics related to mental health and women empowerment. She's an aspiring journalist, who's currently working as an Entertainment Editor at USAnewshour.com and can be reached out at arunikaswaroop13@gmail.com