Jeff Bezos, CEO of legendary e-commerce giant Amazon, will step down this year

New Delhi: E-commerce company Amazon announced on Tuesday that its founder Jeff Bezos will step down as CEO and become executive chairman. The company first recorded a record third consecutive year and reported quarterly sales above 100 billion. Bezos started Amazon as a startup and now the company has become one of the largest companies in the world and has made Bezos the richest person in the world. The current Amazon Web Services chief Andy Jessie will be the next chief executive of Amazon in a change for the third quarter.

Bezos said in a letter to Amazon employees that he would be associated with ‘Amazon’s important projects’. But now he will focus on his welfare schemes ‘Day One Fund’ and ‘Bezos Earth Fund’. Along with this, he has shown interest in moving towards commercial ventures related to space exploration and journalism.

Google CEO Sundar Pichai tweeted on Wednesday, congratulating Jeff Bezos and his successor Andy Jesse for their new roles after the Amazon founder announced he would step down as CEO of the company later this year.

Significantly, 57-year-old Bezos started Amazon in 1994 from his home garage and now his company is the biggest name in online retail. Amazon has now forayed into many areas including grocery, streaming services, TV, cloud computing, robotics, artificial intelligence. Bezos also owns Washington Post Newspaper and private space company Blue Origin in addition to Amazon.