Jeff Bezos, CEO of Amazon, will step down as the online shopping giant’s top boss later this year. The company announced this at the presentation of the annual figures. In one letter Bezos tells employees that he wants to focus on “new products and initiatives”.
In the letter, he says that the role of CEO is a huge responsibility and takes a lot of time. That makes it difficult to pay attention to other matters. “As Executive Chairman, I will continue to be involved in key initiatives but will also have time to focus on Day 1 Fund, Bezos Earth Fund and Blue Origin.” The latter is his aerospace company. Bezos also owns the Washington Post, which will have a new editor-in-chief this year.
Bezos started the company as an online bookstore in 1994, which was completely new at the time. He has been at the top ever since. In the beginning he often had to explain what the internet was, he writes. “Fortunately, I didn’t have to do that for a while.”
The transfer is in summer. Andy Jassy, who has also been with Amazon for a long time and is now responsible for the company’s Internet services, becomes the new CEO. Bezos is then appointed Executive Chairman.
125 billion in sales
The numbers show that Amazon is benefiting significantly from the corona crisis. Revenue last quarter exceeded 125 billion. That is 40 percent more than a year earlier.