Jeff Bezos has announced plans to step down as CEO of Amazon, transitioning to the role of executive chair.
The move will be effective in the third quarter of 2021, when Andy Jassy will take the reins as CEO.
“Amazon is what it is because of invention,” the Amazon founder says. “We do crazy things together and then make them normal.
“We pioneered customer reviews, 1-Click, personalized recommendations, Prime’s insanely-fast shipping, Just Walk Out shopping, the Climate Pledge, Kindle, Alexa, marketplace, infrastructure cloud computing, Career Choice, and much more.
“If you do it right, a few years after a surprising invention, the new thing has become normal,” Bezos adds. “People yawn. That yawn is the greatest compliment an inventor can receive. When you look at our financial results, what you’re actually seeing are the long-run cumulative results of invention.
“Right now I see Amazon at its most inventive ever, making it an optimal time for this transition.”