Jeff Bezos will still maintain a leadership position as an executive chair in the company. Exactly 27 years ago on this day, Bezos incorporated the company he co-founded and will now retire as CEO of Amazon. He is handing over the position to Andy Jassy, the head of the company’s cloud computing division.
The plans to step down as CEO was announced back in February to all his employees and shareholders. Bezos said he still wants an active role with the company to focus on the company’s many side initiatives, including space exploration, fighting climate change, and philanthropy. Specifically, Bezos wants to focus on “Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and other passions.”
Bezos was an electrical engineer and computer programmer by training but worked on Wall Street after his university years. He met his future wife at one firm which would marry in 1993. The pair wanted to start an online business with many uncertainties. Eventually, Bezos thought selling books may resonate with consumers. The company was unprofitable for many years but is now worth more than $1.7 trillion US.
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