Jeff Bezos, who built an online bookstore into a $1.7 trillion technology empire reaching into space, has announced he will be stepping down as CEO at the apex of his career to focus on innovations.
Bezos, who extended the company’s reach to India with multi-billion dollar investments, said on Tuesday that he will move away from its day-to-day operations and become the executive chairman of Amazon’s board.
Bezos said that in his new role he intends “to focus my energies and attention on new products and early initiatives”.
Andy Jassy, the head of the conglomerate’s web services, is to succeed him as Amazon’s CEO in the transition set for the third quarter.
It is estimated that about half of the company’s revenue comes from Amazon Web Services (AWS).
Read More: https://www.bhaskarlive.in/amazon-founder-bezos-to-step-down-as-ceo-of-technology-empire-2nd-ld/
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