Jeff Bezos is stepping down as Amazon CEO

Jeff Bezos is stepping down from his role as CEO of Amazon.

Bezos, who founded the company more than 25 years ago, announced Tuesday that he'll transition to become the executive chair of Amazon's board in Q3 of this year. Amazon Web Services CEO Andy Jassy will take over, and Bezos said in an press release that he has "full confidence" in the longtime Amazon executive.

After stepping away from his "time consuming" role at the helm of Amazon, Bezos said he'll focus on his other projects and initiatives, including The Washington Post, his aerospace company Blue Origin, and his nonprofits focused on climate change and homelessness. He also praised Amazon employees for their "inventiveness" in creating a range of products and services under the company umbrella, and counted the company's $15 minimum wage and climate pledge among his favorite achievements.

The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE

https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Bezos has amassed a net worth of more than $184 billion as Amazon CEO, with share prices at the company skyrocketing since the start of the COVID-19 pandemic. Amazon warehouse employees have complained about unsafe working conditions both before and during the pandemic, and the company has long tried to squash unionization efforts among its workforce.

Explore More

Kathryn is a graduate of Syracuse University, with degrees in magazine journalism and information technology, along with hours to earn another degree after working at SU's independent paper The Daily Orange. She's currently recovering from a horse addiction while living in New York City, and likes to share her extremely dry sense of humor on Twitter.