Jeff Bezos Steps Down From Being the CEO of Amazon

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via Variety

Jeff Bezos

After 27 years of being the CEO of Amazon, Jeff Bezos is finally stepping down from his position. In 1995, Jeff Bezos launched the well-known company Amazon, which became very popular due to its innovations in technology. For example, Amazon created the Echo, which is a high-tech voice assistant. Amazon is an online website where people can order practically anything for those who do not know what Amazon is. The products people buy are then shipped to the location they are wanted to.

On February 2nd, Jeff Bezos made a huge announcement saying that he was stepping down from the CEO position of Amazon. He said that he would be giving his CEO spot to Andy Jassy later in the year. Andy Jassy is not new to Amazon at all. Andy has been with Amazon since 1997, which is almost as long as Jeff Bezos.

When Jeff Bezos stepped down from CEO, Andy Jassy was the first person Jeff Bezos thought of to make the new CEO. Although Jeff is stepping down from CEO, it doesn’t mean he is leaving the company altogether. Jeff is going to become the Chief Executive.

He is deciding to step down from being the CEO because, during the holidays, the company’s profit was more than double of 7.2 billion dollars. Amazon is now worth over 1.6 trillion dollars. Also, due to Covid-19, everyone is shopping online, so Amazon is making more money than normal. Since Jeff Bezos is stepping down from CEO to Chief Executive, he is still making money off Amazon. Jeff Bezos also said, “Being the CEO of Amazon is a deep responsibility, and it’s consuming, and when you have a responsibility like that, it’s hard to put attention on anything else.” Jeff Bezos wanted to free up some of his time to work on other projects, which is why he stepped down from being the CEO. He also said that he wanted to spend more time with his kid, Preston Bezos.

Although he is stepping down as Amazon CEO, Jeff Bezos is not retiring from work at all. A recent article also explained that Jeff Bezos is stepping down from the CEO of Amazon for his new space project. This space project would be called Blue Origin.  After Jeff Bezos steps down, he will focus most of his time on Blue Origen, which focuses on Space Travel. Today, Amazon is one of the most successful companies in the world. Most people predict that when Jeff steps down, his new company, Blue Origin, will be very successful.