Tuesday, July 27, 2021
News

Jeff Bezos to step down as Amazon CEO

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Seattle | February 3, 2021 3:43:16 AM IST
Amazon CEO Jeff Bezos will step down as the chief executive of the company -- which he founded almost 27 years ago, the company announced on Tuesday (local time).

According to The New York Times, Bezos will transition to the role of executive chairman in the third quarter of 2021. Andy Jassy, CEO of Amazon Web Services would take over as CEO of Amazon.

The announcement came as Amazon released its financial results for its fourth quarter that ended December 31, 2020. The company recorded USD 100bn in sales for last three months of 2020.

"Amazon is what it is because of invention," Bezos, 57, said in a statement released by the company.

"If you do it right, a few years after a surprising invention, the new thing has become normal. People yawn. That yawn is the greatest compliment an inventor can receive. When you look at our financial results, what you''re actually seeing are the long-run cumulative results of invention.

"Right now I see Amazon at its most inventive ever, making it an optimal time for this transition".

Bezos had stepped back from much of the day-to-day business over several years, though the pandemic pulled him back in last spring.

"Right now I see Amazon at its most inventive ever, making it an optimal time for this transition," Bezos said in a statement.

Bezos, who founded Amazon in 1994 had stepped back from much of the day-to-day business over several years, though the pandemic pulled him back in last spring. (ANI)

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE WORLD NEWS
Rajnath Singh likely to meet Tajik count...
US Veterans Affairs Dept issues vax mand...
Results of 2020 Myanmar general election...
Derailment involving 18 acid tankers occ...
Afghan security forces push back Taliban...
Tunisia tightens security after sacking ...
More...
 
INDIA WORLD ASIA
Monsoon session: Rajya Sabha adjourned t...
India reports less than 30,000 daily COV...
Karnataka: BJP deputes Dharmendra Pradha...
Assam-Mizoram clash: 'All eyes on Shah w...
One held, 1.3 kg charas seized in Kolkat...
Government is ready to discuss all the i...
More...    
 
 Top Stories
Over 50,000 arrested in SL for viol... 
Multiplex majors cheer back-to-back... 
Olympics: After Australia disaster,... 
No revision in petrol, diesel price... 
'Nearly 60% of French adults receiv... 
Samsung ditches Galaxy Note series ... 
Actor Umesh Kamat takes legal route... 
Pegasus row: Manish Tewari gives ad...