Jeff Bezos steps down as Amazon CEO

Megan Batson - Junior | News

Amazon founder Jeff Bezos announced plans to step down as CEO of the company in an earnings release on Feb. 2, most likely over the upcoming summer. The position will be transferred to Andy Jassy, a longtime cloud-computing boss for the company.

As the executive chair of Amazon, Bezos will continue to oversee production from afar, no longer representing the company. The position was created for him, allowing Jassy to take more direct control of production in his absence.

The upcoming transfer was purposefully planned for summer 2021.

“If you do it right, a few years after a surprising invention, the new thing has become normal… Right now I see Amazon at its most inventive ever, making it an optimal time for this transition.” said Bezos.

Bezos plans to expand into larger projects, such as developing space-travel technology and donating more towards education.

Although he aims to expand, Bezos will still be heavily involved with Amazon as executive chair. Details on his future involvement are limited however, as the position was created specifically for him.

Amazon’s success leading up to the transfer has only increased with the needs of the COVID-19 pandemic, as online delivery has allowed at-risk Americans to shop safely. The company shows no intention of slowing down after Bezos’ departure, as drone and rapid delivery technology are planned to strengthen in the coming years.

While not much is known about Jassy’s plans for the company, his cloud-computing experience is bound to lead the company into another period of technological advancement.