It has been confirmed that CEO of Amazon, Jeff Bezos will step down in the third quarter of 2021, and a top executive of the company, Andy Jessy has been confirmed his successor.
Bezos, the founder of Amazon will be transferring to Executive Chairman of the Amazin board.
Jassy has led the Web services cloud team in the company since its inception, he joined Amazon in 1997.
As Chairman Bezos said, he will focus his energies and attention on new products and early initiatives.
The gigantic online retailer is worth more than $1.6trillion; Bezos is the second richest man after Elon Musk.