Business – February 2, 2021
By Nathaniel Ballantyne
(TrueNewsblog) – Amazon.com Inc said on Tuesday Chief Executive Officer Jeff Bezos will transition to the role of executive chair in the third quarter, with Andy Jassy becoming the company’s top boss.
Bezos is the President and CEO of Amazon and owner of The Washington Post. Given up his post would mean Bezos will no longer be in charge of making crucial decisions.
Amazon said Tuesday that Jeff Bezos is stepping down as CEO later this year, a role he’s had since he founded the company nearly 30 years ago.
Amazon said he’ll be replaced in the fall by Andy Jassy, who runs Amazon’s cloud business. Bezos will then become the company’s executive chairman.
Bezos founded Amazon as an online bookstore and turned it into a behemoth that sells just about everything. In the process, he became one of the world’s richest people.