Jeff Bezos Steps Down as Amazon CEO

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Jeff Bezos

Jeff Bezos, the American business magnate, who is founder and chief executive officer (CEO) of Amazon, one of the world’s largest technological organizations, stepped down from the top position on Monday, July 5.

Andy Jassy, who is serving as the chief of Amazon web services, will become the new CEO.

Bezos, 57, will retain a crucial role as the executive chair at the organisation. He will not be a part of the daily management and will spend more time on other projects including his Aerospace company Blue Origin.

Bezos, who is currently the richest person in the world, started Amazon as an online bookstore at a garage 27 years back, when he packaged orders himself and delivered them to post offices.

He slowly took the organization to new heights and expanded its business in the fields of e-commerce, artificial intelligence, cloud computing, digital streaming among many others.

Amazon, which is often regarded as the most valuable brand on earth, has a market value of over $1.7 trillion.

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