Jeff Bezos will be transitioning from CEO to executive chair of Amazon in Q3 of this year. Andy Jassy, who currently leads Amazon Web Services, will become CEO at that time.
The announcement comes after Amazon reported $125.6 billion in fourth quarter revenue, up 44 percent year over year.
In a letter to employees announcing the news, Bezos said, “Amazon couldn’t be better positioned for the future. We are firing on all cylinders, just as the world needs us to. We have things in the pipeline that will continue to astonish. We serve individuals and enterprises, and we’ve pioneered two complete industries and a whole new class of devices. We are leaders in areas as varied as machine learning and logistics, and if an Amazonian’s idea requires yet another new institutional skill, we’re flexible enough and patient enough to learn it.”
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