Jeff Bezos To Step Down As CEO Of Amazon This Year

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Jeff Bezos To Step Down As CEO Of Amazon This Year

Jeff Bezos mentioned Tuesday he would hand over his position as chief govt of Amazon. (File)

Washington:

Jeff Bezos mentioned Tuesday he would hand over his position as chief govt of Amazon later this yr because the tech and e-commerce large reported a surge in revenue and income within the vacation quarter.

The corporate mentioned Andy Jassy, who heads Amazon Net Companies, would take over as CEO within the third quarter.

The announcement got here as Amazon reported a blowout vacation quarter with income greater than doubling to $7.2 billion and income leaping 44 % to $125.6 billion.

Bezos, who has turn into the world’s richest individual primarily based on his stake in Amazon, mentioned he’ll transition to the position of govt chair within the third quarter at hand over the CEO position to Jassy.

“Amazon is what it’s due to invention,” Bezos mentioned in a press release.

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“Proper now I see Amazon at its most ingenious ever, making it an optimum time for this transition.”

Jassy joined Amazon as a advertising and marketing supervisor in 1997 and in 2003 based AWS, the net division of the corporate which has been some of the worthwhile however least-known models of the tech colossus.

(Aside from the headline, this story has not been edited by NDTV workers and is revealed from a syndicated feed.)

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