Jeff Bezos to step down as Amazon CEO

AWS CEO Andy Jassy Named New Amazon CEO, Replacing Bezos

Jeff Bezos, the founder of US-based e-commerce mammoth Amazon has chose to step down as the company CEO this year.

Turns out Andy Jassy was basically running most of Amazon already.

Bezos will now serve as the executive chair of Amazon's board. Amazon has asked federal, state and local officials to prioritize its essential workers for vaccination "at the earliest appropriate time".

The announcement of Bezos resigning from the post of Amazon CEO has garnered reactions from around the world.

Why has Jeff Bezos resigned? Please see our Privacy Notice for details of your data protection rights. "When you have a responsibility like that, it's hard to put attention on anything else", he wrote in a letter to company employees on Tuesday.

"Amazon couldn't be better positioned for the future".

"I don't know of another company with an invention track record as good as Amazon's, and I believe we are at our most inventive right now".

Bezos says he's "excited" about this new direction in his life and hopes he's able to commit more energy into the things that interest him. "I'm super passionate about the impact I think these organizations can have", Bezos wrote. "We are firing on all cylinders, just as the world needs us to", Bezos added".

Mr Bezos signed off his letter: "Keep inventing, and don't despair when at first the idea looks insane". Amazon announced in April that it had hired 175,000 people since the start of the pandemic.

In his letter, Jeff Bezos spoke about Amazon's journey of 27 years.

Amazon has propelled Bezos to become one of the wealthiest people on the planet, with a net worth of some $188 billion, according to Bloomberg data.

The news came as Amazon reported a blowout holiday quarter, with profits more than doubling to $7.2 billion and revenue jumping 44% to $125.6 billion - as pandemic lockdowns caused online sales to explode around the globe.

Amazon Web Services, the cloud computing giant led by the now-future Amazon CEO, closed out 2020 with more than $13.5 billion in annual operating profits, responsible for more than 63% of the entire company's operating profits for the year, on annual AWS revenue of $45.3 billion, up almost 30% year-over-year.

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