According to an announcement made by Amazon, Andy Jassy will be replacing Jeff Bezos as the CEO of the global retail giant. Bezos will be leaving his post with Andy Jassy taking the chair from the beginning of Q3.
Bezos will be keeping a position in Amazon’s board as the executive chairman.
Although this is the first time this information has been made public, it was being speculated for quite some time that Jassy would be the most likely choice for being appointed as the CEO of Amazon after Bezos stepped down.
The details of this announcement were presented in this press release.
Referring to this update, Bezos said in a letter to his employees, “I’m excited to announce that this Q3 I’ll make a transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO. In the Executive Chair role, I intend to focus my energies and attention on new products and early initiatives. 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.”
Brian Olsavsky, the Chief Financial Officer of Amazon stated that the executive decision was reached upon with complete consensus of Amazon’s board of directors and that Bezos will still have a major involvement in the decision-making of Amazon.