Amazon yesterday confirmed that founder Jeff Bezos is stepping down from his role as CEO in Q3 2021, taking a place as executive chair of the board instead.

His replacement will be Andy Sassy, the current CEO of Amazon Web Services.

Sassy has been at Amazon a long, long time and will likely be a popular figure among the Amazon rank and file.

I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO. In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives. Andy is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader, and he has my full confidence.

Bezos has been Amazon CEO since he founded the company way back in 1994 and has turned the company into a huge player in various corners of the internet, not least the internet itself. Amazon Web Services (AWS) plays host to all manner of websites and services, for example.

Until recently Amazon had made Bezos the richest person on the planet with a net worth of almost $180 billion. It’s unlikely he’ll s struggle for money now that he isn’t CEO of Amazon – but the real interest now will be on what he does with all of his newfound free time.

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