“As Exec Chair I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions.
“I’ve never had more energy, and this isn’t about retiring. I’m super passionate about the impact I think these organizations can have.”
This was part of Jeff Bezos’ statement to his employees, as he stepped down as Amazon CEO, after serving the company he founded, for more than 25 years. Mr. Bezos will transition into the role of executive chair as Andy Jassy takes over as CEO.
Mr. Bezos announced the move on Feb. 2, telling investors that he would transition in the third quarter of this year, with the intent to focus on new products and early initiatives.
Bezos started Amazon as an online retailer for books from his Seattle garage in 1994, prior to which he worked in finance. Amazon since then has become s household name, one of world’s few trillion-dollar behemoths, selling everything from household products to online content.
It also made Mr. Bezos the world’s second richest person, with a net worth of $188 billion. Amazon also owns The Washington Post and space travel company Blue Origins, which may be his main areas of focus going forward.
Bezos had stepped back from day-to-day operations of Amazon in recent times, only surfacing at earnings calls.
Stay updated with all the insights.
Navigate news, 1 email day.
Subscribe to Qrius
