What Jeff Does Next – Why Bezos Is Unlikely To Sever Ties With Amazon
The news that Jeff Bezos is to step down from his role as Amazon chief executive was perhaps one of the more unexpected elements of the tech giant's fourth quarter results statement, but don't expect the 57-year-old to sever his links with the empire he created any time soon.
In a statement, the New Mexico native, who founded Amazon in 1994, said, "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.”
Andy Jassy, the longstanding head of the group's profitable Amazon Web Services arm, will take on the role of chief executive in the third quarter of 2021, with Bezos transitioning to the position of executive chairman.
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