Jeff Bezos resigns: Why has Jeff Bezos resigned as Amazon CEO?

Jeremy Clarkson reveals ‘nice gesture’ from Jeff Bezos

Amazon.com Inc said on Tuesday the company’s Chief Executive Officer, Jeff Bezos, will transition to the role of executive chair in the third quarter. Andy Jassy will take over, becoming Amazon’s new top boss.

Why is Jeff Bezos stepping down as Amazon CEO?

In a letter to Amazon employees, Mr Bezos said he will have more time to pursue his other projects by stepping down as Amazon’s CEO.

Mr Bezos said: “Being the CEO of Amazon is a deep responsibility, and it’s consuming.

“When you have a responsibility like that, it’s hard to put attention on anything else.

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“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.

“I’ve never had more energy, and this isn’t about retiring. I’m super passionate about the impact I think these organizations can have.”

“Amazon couldn’t be better positioned for the future. We are firing on all cylinders, just as the world needs us to.”

Mr Bezos signed off his letter: “Keep inventing, and don’t despair when at first the idea looks crazy.

“Remember to wander. Let curiosity be your compass. It remains Day 1.”

Mr Bezos started the company 27 years ago as an internet bookseller in 1994.

Amazon has just reported its third consecutive record profit and quarterly sales above $100 billion for the first time.

Andy Jassy is currently chief executive of Amazon Web Services, the company’s fast-growing cloud computing business.

According to Forbes, Jeff Bezos has a real time net worth of $196.7billion (approximately £144billion) as of February 2, 2021.

As of February 2, Forbes lists Mr Bezos as the richest person in the world.

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