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Jeff Bezos has announced that he is stepping down from his position as CEO of Amazon. AWS CEO Andy Jassy will replace him. However, Bezos will continue to play an important role within Amazon as Executive Chair.

In an e-mail to Amazon employees, which was also published on Amazon’s news page, Bezos said that he was spending too much time on everyday worries and tasks to keep the company running. He wants to devote more energy and attention to developing new products and initiatives. He mentions the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post and other passions.

Andy Jassy

The position of Bezos is taken over by Andy Jassy. Jassy founded Amazon Web Services in 2006 and has been its CEO since 2016. It is not clear if his position at AWS will be taken over by someone else or if he will be in charge of both companies.

The world’s largest online store

Bezos founded Amazon in 1994 as an online marketplace for books, but soon expanded the company to other consumer products. Since then, Amazon has grown into the largest online shop in the world and Jeff Bezos has been described several times as the richest man in the world.

Bezos has continued to broaden his activities. Amazon has grown from a web shop to the largest IaaS provider in the world. Bezos has also been working for more than 20 years on Blue Origin, a company with the aim of colonising other planets in the solar system. In 2013, Bezos acquired the American newspaper The Washington Post.

Andy Jassy is slated to take the position of Amazon CEO in Q3 of this year.

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