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After 27 years, Jeff Bezos, the entrepreneur who turned an online bookstore into one of the most powerful companies in the world, announced his plans to step down as Amazon CEO.
In an email to employees on Tuesday, Bezos said the transition will come in Q3, at which point he will become executive chair of the board. Andrew Jassy, the current CEO of cloud platform Amazon Web Services, will succeed Bezos as CEO.
In his new role, Bezos said he will “focus [his] energies and attention on new products and early initiatives.”
Pointing to prior successes like Prime, Amazon Go and Alexa, Bezos said, “If you get it right, a few years after a surprising invention, the new thing has become normal.