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.
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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.
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