The founder of US e-commerce giant Amazon, Jeff Bezos, has stepped down as CEO of the company with former chief of the cloud computing division Andy Jassy taking over the office, follows from the retailer’s website.
Bezos announced his intention to give up the role of the Chief Executive Officer of the company and to transition to the Executive Chair of the Amazon Board in February, naming Jassy as his successor. In May, he set the date for his withdrawal for July 5, the day Amazon was founded in 1994.
The Amazon founder has been at the helm of the company for 27 years, overseeing its progress from an online bookseller to a $1.75 trillion global retail behemoth. After leaving office, the 57-year-old will continue to own more than 10% of Amazon’s shares.
Bezos has topped the Forbes list of the world’s richest people for four consecutive years, with his fortune estimated at $177 billion as of 2021.