Education

Amazon founder Jeff Bezos to step down from companys CEO role this year

The announcement got here as Amazon reported a blowout vacation quarter with earnings greater than doubling to $7.2 billion and income leaping 44 p.c to $125.6 billion.

AFP

UPDATED ON FEB 03, 2021 03:09 AM IST

Jeff Bezos stated Tuesday he would hand over his function as chief govt of Amazon later this yr because the tech and e-commerce large reported a surge in revenue and income within the vacation quarter.

The corporate stated Andy Jassy, who heads Amazon Internet Providers, would take over as CEO within the third quarter.

The announcement got here as Amazon reported a blowout vacation quarter with earnings greater than doubling to $7.2 billion and income leaping 44 p.c to $125.6 billion.

Bezos, who has develop into the world’s richest particular person based mostly on his stake in Amazon, stated he’ll transition to the function of govt chair within the third quarter handy over the CEO function to Jassy.

“Amazon is what it’s due to invention,” Bezos stated in a press release.

“Proper now I see Amazon at its most creative ever, making it an optimum time for this transition.”

Jassy joined Amazon as a advertising and marketing supervisor in 1997 and in 2003 based AWS, the net division of the corporate which has been one of the worthwhile however least-known models of the tech colossus.

Shut

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button