Amazon founder Jeff Bezos to step down as CEO this year

Jeff Bezos will step down as Amazon CEO and become the company's executive chairman later this year. This is expected to happen latter in third quarter of 2021. Even amazon has huge increase in profit in last couple of years Jeff Bezos decided to step down from the CEO and serve as executive chairman of the company. Amazon hits the most quarterly sales in december 2020. Jeff Bezos said his employees by posting on amazons website that "As Executive Chair I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions". He added, "I've never had more energy, and this isn't about retiring". Andy jassy is standing up as the new amazon CEO. He has been part of amazon since 1997. Jeff Bezos also said that 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.

Andy jassy is a graduate from Harvard business school and was a advertising manager for harvard crimson. He is also a american businessman and owner of seattle kraken national hockey league. He grew amazon web services in to a cloud platfom which is used by millions of customers. The company hit the revenue from amazon cloud computing system of 12.7 billion which was targeted as 12.8 billion by the company. Andys successful contributions to the company opened a greater path for him. It would be intresting to see how this affects the company.