Amazon Founder Bezos Steps Down as CEO, Names Cloud Chief Jassy as Successor
Jeff Bezos hands over the role of Amazon CEO to Andy Jassy, the longtime leader of Amazon Web Services. Bezos will transition to executive chairman to focus on new products and early initiatives.
Jeff Bezos announces he steps down as Amazon CEO later this year, handing control to Andy Jassy, the longtime head of Amazon Web Services. Bezos will transition to the role of executive chairman, a move that coincides with the company reporting its first $100 billion quarter. The leadership change takes effect in the third quarter and concludes Bezos's decades-long tenure at the operational helm of the massive e-commerce giant he founded in 1994.
Jassy brings deep company experience to the top role, having joined Amazon in 1997 and leading the AWS cloud division since its inception. Under his guidance, AWS drives the majority of Amazon's operating income and continues to show strong growth. Jassy emerges as the clear successor after the previously rumored candidate for the position, worldwide consumer CEO Jeff Wilke, announces his retirement.
Amazon executives emphasize that this transition brings a high degree of continuity to the company's operations. Bezos plans to remain highly involved and focus his energy on developing new products and early-stage initiatives. The market reacts positively to the leadership news and the record-breaking earnings report, pushing Amazon's stock up in extended trading and cementing its massive valuation.