Jeff Bezos will step down as CEO of Amazon

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Amazon founder Jeff Bezos, who was the CEO since 1995 will step down from his role as chief executive later this year. He will become executive chair and will be replaced as Ceo by Andy Jassy. who has worked for Amazon since 1997 and currently serves as CEO of the company’s cloud business, Amazon Web Services. „Today, we employ 1.3 million talented, dedicated people, serve hundreds of millions of customers and businesses, and are widely recognized as one of the most successful companies in the world,” Jeff Bezos said. He also said said in his Tuesday letter that he is excited for the transition, which will free up more time for him to work on outside projects.

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Amazon posted quarterly net sales of $125.6 billion, up 44% from the same period in the prior year. Amazon said it delivered more than a billion products to customers worldwide during a “record-breaking holiday season.” The company asked President Biden to prioritize its workers for vaccination against Covid-19. For the current quarter, Amazon anticipates revenue will grow between 33% and 40% compared to the prior-year quarter to between $100 billion and $106 billion.