On Monday, Amazon’s founder, Jeff Bezos, stepped down as the company’s CEO, he handed over the reins to Andy Jassy, the Amazon Web Services Executive.

He announced this transition in a shareholder meeting in May. Although Jeff Bezos would remain with the company as an executive chair. Mr Bezos in February through an email to his employees said that in the executive chair role he would focus his energies and attention on the new products and early initiatives, he also said that Andy was well known in the company and had worked at Amazon as long as he did. Jeff Bezos continued to say that Andy would be an outstanding leader and had his full confidence.

Ever since the foundation of Amazon in 1994, Mr Bezos had served as the CEO of the company and on Monday it was marked as the 27th anniversary of the company’s founding.

According to the Bloomberg Billionaires Index, the total net worth of Jeff Bezos is $203 billion and is the world’s richest man.

It is alleged that the 57-year-old Mr Bezos would devote his time towards personal projects, in fighting climate change and overseeing the newspaper owned by him, Washington Post.

The company Amazon started as an online bookseller and went on to grow very hastily under Jeff Bezos leadership and became the dominant online commerce platform and one of the world’s leading technology companies.

Jeff Bezos will be at a launch with Blue Origin; his private space flight company, which has been scheduled for July 20, the adventure would be joined by his brother and a mystery customer who had paid $28 million in an auction of the seat, along with 82-year-old Mary Wallace Wally Funk.

 

 

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TOPICS: Amazon andy jassy Jeff Bezos