Amazon boss Jeff Bezos to step down from role as CEO of online retail giant
The Daily Star’s FREE newsletter is spectacular! Sign up today for the best stories straight to your inbox
Jeff Bezos will step down at the CEO of Amazon, the online retail giant has confirmed.
He founded the firm more than 25 years ago, but now Amazon Web Services chief Andy Jassy is taking over the role.
The change comes as the firm reported record revenues for its key Christmas quarter, which topped $100billion for the first time.
Bezos, who has been CEO of Amazon since he founded it as an online book seller in 1995, will become executive chairman during the summer.
Figures show the company recorded total sales of $125.6billion (£92billion) between October and December, a 43% rise on the same period in 2019.
The period covered Prime Day and Black Friday, as well as the holiday season.
Bezos, who has a £135billion fortune, said the role of executive chairman will allow him to "focus my energies and attention on new products and early initiatives".
He said it will also give him the "time and energy I need to focus on" other initiatives, including his space company Blue Origin, as well as "my other passions".
And he said the new boss will "be an outstanding leader" and "has my full confidence".
In an email to Amazon’s 1.3million employees, he said: "I’ve never had more energy, and this isn’t about retiring. I’m super passionate about the impact I think these organisations can have.
"Amazon couldn’t be better positioned for the future. We are firing on all cylinders, just as the world needs us to.
"We have things in the pipeline that will continue to astonish."
He added the firm is “widely recognised as one of the most successful companies in the world”.
He wrote: “How did that happen? Invention. Invention is the root of our success.
“We’ve done crazy things together, and then made them normal. "
Last month, Bezos was overtaken by Tesla and SpaceX CEO Elon Musk as the richest person in the world.
This is a breaking news story and is constantly being updated.
Please refresh the page regularly to get the latest updates.
Reporters working on dailystar.co.uk will be working to source the latest information, reaction, pictures and video related to this story.
You can also follow us on Twitter @DailyStar to get the latest news updates 24 hours a day.
Or download the Daily Star app for flash alerts on the biggest stories of the day.
Why not also subscribe to receive our regular Daily Star news bulletins? You can do this on this page by simply entering your email address above and hitting 'subscribe'.
- Amazon
- Money
Source: Read Full Article