Amazon founder Jeff Bezos to step down from CEO role today

Amazon’s Founder and CEO is today transitioning to the role of Executive Chair and Andy Jassy will become take up the role of Chief Executive Officer.

“Amazon is what it is because of invention. We do crazy things together and then make them normal. We pioneered customer reviews, 1-Click, personalized recommendations, Prime’s insanely-fast shipping, Just Walk Out shopping, the Climate Pledge, Kindle, Alexa, marketplace, infrastructure cloud computing, Career Choice, and much more,” said Bezos.

“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.”

The initial announcement was made in February at Amazon’s annual financial statement event.

Bezos originally founded the firm in his garage nearly 30 years ago, originally as an online bookstore, and has been the driving force behind the company’s incredible growth – which saw him become the world’s richest man.

He will be replaced by Jassy, the current Chief Executive of Amazon’s hugely profitable cloud computing division. However, Bezos will remain a part of the company, but will focus on new innovations.