Amazon CEO Jeff Bezos announced today that he is stepping down from his CEO position, moving to an executive chair position in Q3 of this year. At that time, Amazon’s CEO role will be filled by Andy Jassy.
In a statement, Bezos said the following:
Amazon is what it is because of invention. 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. 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.
For those who don’t know Jassy, he’s in charge of Amazon’s cloud computing business, so he should be able to transition into the role nicely.