Jeff Bezos to drop his chief executive position at Amazon
The world's richest man will soon relieve his position at an e-commerce company. Before June, he is expected to become the chairman, to focus on other businesses.
Jeff Bezos to leave the CEO role
Amazon CEO, Jeff Bezos will step down as chief executive of the top online firm which he founded about 31 years ago. After leaving the CEO position, he will become the executive chairman which will give the world's richest man more freedom to focus on other business operations.
He will be immediately replaced by another capable hand Andy Jassy, who heads the Amazon cloud business. This change is expected to happen by the second half of the year according to a company spokesperson.
'' My position as CEO of Amazon is a huge responsibility and needs quality time. You can't be a CEO and not devote immense time for the business to succeed '' Mr. Bezos stated in his letter to staff.
'' As an executive chairman, I will be involved in crucial Amazon innovations, but will still have some free time for Day One fund, and Bezos Earth fund, and other works I am engaged in. 'this doesn't mean I am retiring, and that I am losing steam. I am still as passionate as I am 31 years ago''
Jeff remains the richest man in the world despite Tesla's Elon Musk success
Amazon employs over 1.4 million staff globally and is involved in a plethora of services and online delivery. Jeff Bezos has a fortune of about $199bm which makes him the world's richest man.
His close rival is still Tesla's Elon Musk who has knocked him off in recent times. Mr. Bezos and Amazon have come under increasing scrutiny by government officials of the kind of monopoly he has over the e-commerce industry, with many suggesting such strongholds are bad for the economy. However, Jeff has said he isn't stopping anyone from delving into the business.