Jeff Bezos Officially Steps Down as CEO of Amazon

He’s keeping busy with several other businesses and an upcoming spaceflight.

Tech 
35,576 Hypes 37 Comments

Longtime Amazon CEO Jeff Bezos, who has helmed the company since its founding in 1994, has officially handed over his title to former Amazon Web Services head Andy Jassy. Bezos remains linked to the company as its Executive Chair.

Jassy, 53, first joined Amazon in 1997 and led Amazon Web Services since its inception in 2003. He was named CEO of the division in 2016, which research indicates controls about a third of the cloud computing market.

Bezos said in May that he decided to step down on July 5, as it holds special meaning.

“We chose that date, because it’s a sentimental one for me. It’s the date that Amazon was incorporated in 1994, exactly 27 years ago,” he said at Amazon’s annual shareholder meeting.

Bezos first announced his departure in February, after helping build the company over 27 years into one of the largest and most successful e-commerce platforms in the world.

“In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives,” he wrote in a letter to Amazon employees. “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.”

Bezos explained that the role of being Amazon’s CEO is “consuming,” and that he intends to devote more time to his other business ventures.

“Being the CEO of Amazon is a deep responsibility, and it’s consuming,” he said. “When you have a responsibility like that, it’s hard to put attention on anything else. As Exec 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.”

Bezos is currently the richest person in the world and has a net worth of $197 billion USD. The 57-year-old’s next role will be passenger aboard Blue Origin‘s first commercial spaceflight on July 20. Bezos will fly alongside his brother Mark, a mystery auction winner who bought a seat for $28 million USD, and Wally Funk, an 82-year-old who has spent the past six decades trying to get to space.

In other news, Richard Branson is making his own space voyage aboard Virgin Galactic’s Unity 22 mission on July 11.

Read Full Article

What to Read Next

Jeff Bezos Reveals Official Last Day as Amazon CEO
Tech 

Jeff Bezos Reveals Official Last Day as Amazon CEO

The e-commerce mogul will step down in July 2021.

Jeff Bezos Is Stepping Down From Amazon CEO Role
Tech 

Jeff Bezos Is Stepping Down From Amazon CEO Role

Putting his focus into the Bezos Earth Fund, Blue Origin spaceship company, The Washington Post and Amazon Day 1 Fund.

Jeff Bezos Steps Down As Amazon CEO and UFC Teams Up With Crypto.com in This Week’s Business and Crypto Roundup
Tech 

Jeff Bezos Steps Down As Amazon CEO and UFC Teams Up With Crypto.com in This Week’s Business and Crypto Roundup

While SZA released NFTs and Levi’s reported strong Q2 growth.


Post-CEO, Jeff Bezos Hits a New All-Time Wealth High at $211 Billion USD
Tech

Post-CEO, Jeff Bezos Hits a New All-Time Wealth High at $211 Billion USD

After jumping $8.5 billion USD in a single day.

New 'Masters of the Universe: Revelation' Trailer Reveals Unlikely Alliance to Save Eternia
Entertainment

New 'Masters of the Universe: Revelation' Trailer Reveals Unlikely Alliance to Save Eternia

Hear Mark Hamill’s cackle as Skeletor.

ABT Sportsline's Volkswagen Golf R Delivers 384 HP
Automotive

ABT Sportsline's Volkswagen Golf R Delivers 384 HP

As if the stock one wasn’t quick enough already.

OAMC Expands Its Peacemaker Liner "DOT" Collection
Fashion

OAMC Expands Its Peacemaker Liner "DOT" Collection

Introducing black and burgundy versions with John Baldessari-inspired dots.

Seiko Teams Up With GUCCIMAZE For Limited-Edition Capsule Collection
Watches

Seiko Teams Up With GUCCIMAZE For Limited-Edition Capsule Collection

Presented by SEIKO
Continuing its 140th anniversary celebrations.

Nike SB Brings Running Technology to Skateboarding With Sandy ZoomX Bruin
Footwear

Nike SB Brings Running Technology to Skateboarding With Sandy ZoomX Bruin

“Engineered to the exact specifications of world class skateboarders.”


Patta and Vault by Vans Update "Mean Eyed Cats" Collaboration
Footwear

Patta and Vault by Vans Update "Mean Eyed Cats" Collaboration

The Old Skool and Sk8-Hi arrive in seven colorways.

size? Taps New Balance for "College" Pack
Footwear

size? Taps New Balance for "College" Pack

Inspired by ’50s Ivy League style.

NOVITEC Gives the Ferrari F8 Tributo the Carbon Fiber Widebody N-LARGO Treatment
Automotive

NOVITEC Gives the Ferrari F8 Tributo the Carbon Fiber Widebody N-LARGO Treatment

Power is also up to 818 HP.

Martine Rose and Nike Launch England Supporter's Jersey
Fashion

Martine Rose and Nike Launch England Supporter's Jersey

Inspired by the Lost Lionesses.

Here's Every Item From Palace's Upcoming Juergen Teller Collaboration
Fashion

Here's Every Item From Palace's Upcoming Juergen Teller Collaboration

Pieces feature iconic works such as ‘Frozen Dead Dog in a Bin,’ ‘Fußball Ist Unser Leben, Bubenreuth,’ and more.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Adblock Detected.

We charge advertisers instead of our readers. If you enjoy our content, please add us to your adblocker's whitelist. We'd really appreciated it.