Jeff Bezos, Amazon's founder is set to exit as CEO with the Amazon Web Services CEO, Andy Jassy taking over the top role
Amazon founder Jeff Bezos will be stepping down from his role as CEO this year and transition to an executive chair position. The announcement comes in conjunction with Amazon's fourth-quarter results where it recorded net sales increases of 44 per cent or US$125.6 billion. The company's operating income also increased to a whopping US$6.9 billion, up from last year's US$3.9 billion.
Upon stepping down from his role as executive chief, Bezos will focus on "new products and early initiatives."
In a letter to employees, Bezos looks back at his journey in starting the company. "This journey began some 27 years ago. Amazon was only an idea, and it had no name. The question I was asked most frequently at that time was, 'What's the internet?' Today, we employ 1.3 million talented, dedicated people, serve hundreds of millions of customers and businesses, and are widely recognised as one of the most successful companies in the world."
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