Jeff Bezos stepping down as Amazon CEO, transitioning to board chairman

Amazon CEO Jeff Bezos, the world’s second-richest man, is stepping down from his position at the trillion-dollar company which he founded 27 years ago.

Bezos announced in a letter to employees on Tuesday that he will be transitioning from chief executive to executive chair, Breitbart reported.

Why now?

“Amazon is what it is because of invention,” Bezos said. “We do crazy things together and then make them normal. 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.”

Bezos explained that now is the “optimal time for this transition” because of the company’s unprecedented success.

“When you look at our financial results, what you’re actually seeing are the long-run cumulative results of invention,” Bezos continued. “Right now I see Amazon at its most inventive ever, making it an optimal time for this transition.”

Amazon passed the $1 trillion mark for the first time last January and is currently worth over $1.6 trillion.

Bezos, also the owner of The Washington Post, said he is stepping down from the role so that he can pursue his “other passions,” as well.

Bezos’s replacement

The letter stated that Andy Jassy will be replacing Bezos as the company’s chief executive officer in the third quarter of 2021, the New York Post reported.

Jassy, who has been with Amazon since 1997, serves as the head of Amazon’s cloud computing unit, which is responsible for more than half of Amazon’s operating income — 67% of it in the last quarter. Jassy also launched Amazon’s Web Services in 2003.

When it comes to Amazon’s support of left-wing politics, it doesn’t appear that much will change when the transition from Bezos to Jassy takes place.

Fox News reported: “While mostly steering clear of politics, Jassy has previously shown support for Supreme Court decisions that made it illegal to discriminate against LGBTQ people in the workplace and blocked former president Donald Trump’s bid to end the  Deferred Action for Childhood Arrivals (DACA) program.”

Jassy was also involved in Amazon’s decision to remove the free speech social media platform Parler from Amazon’s Web Services, which occurred at the same time that Big Tech giants such as Twitter and Facebook targeted conservatives on social media, including former President Donald Trump, Forbes reported.

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