When Amazon bared its financial results on February 2, 2021, it also announced that the company’s founder and CEO Jeff Bezos is stepping down as the Chief Executive Officer and will transition to the role of Executive Chair in the third quarter of 2021.

According to the Amazon founder, now is the best time for the said transition. “Right now I see Amazon at its most inventive ever, making it an optimal time for this transition,” he stated.

But who will replace Bezos as the new Chief Executive Officer? Well, it is no other than Andy Jassy. “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 himself announced through an email addressed to his to employees.

“Andy is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader, and he has my full confidence,” he added.

Bezos described being the CEO of Amazon a deep responsibility and also pointed out that it is consuming. According to him, it is hard to put attention on anything else if you have a responsibility such as.

“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. “

– Jeff Bezos

Want to know further details on the Amazon CEO Transition? You can read the full letter from Jeff Bezos addressed to his employees, here:

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Source: Amazon| Press Release, Amazon| Email from Jeff Bezos