The CEO of Amazon is stepping aside.
Jeff Bezos will transition to become the online retail giant’s board executive chair. Amazon Web Services CEO Andy Jassy will take the helm for Bezos during the third quarter of this year. In a letter to employees, Bezos said he will focus on new products and early initiatives. He said Jassy has his full confidence in taking the CEO role.
It comes as Amazon reported Tuesday revenues of 125-billion dollars in the final quarter of 2020, slightly beating analysts expectations.