Jeff Bezos to step down as CEO of Amazon

Washington: Amazon’s Jeff Bezos in an email to employees said he is stepping down from his role as Chief Executive Officer of the company.

“I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO,” Bezos said in the email on Tuesday.

The entrepreneur said being the CEO of Amazon distracts him from paying attention to other initiatives.

Bezos said his role as the executive chair of the Amazon board of directors will allow him to stay engaged with the company while also dedicating time to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and other matters.

Bezos said his decision to step down from being CEO is not hinting at retirement.

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