Jeff Bezos is stepping down as Amazon’s CEO

Jeff Bezos is stepping down as Amazon’s CEO coming this July. Amazon CEO said that he would step down as Amazon’s chief executive, leaving the reins of the company he created 27 years ago. In the third quarter of this year, which begins July 1, Bezos will move to the executive chair position, the company said. Andy Jassy, Amazon Web Services’ chief executive, will take over as Amazon’s CEO.

Also, Read: Tech Giant Amazon now owns 11 planes.

The 53 years old, Andy Jassy will soon replace Jeff Bezos as Amazon’s CEO. Jassy joined Amazon in 1997 and currently heads AWS. He has completed MBA from Harvard Business School. Andy also served as the first technical adviser to Bezos early in his career. He founded the Amazon Web Services in 2006 and turned it to the world’s biggest cloud service provider.Bezos steps away from Amazon at a time when its market value hovers around $1.7 trillion, making it one of the most valuable companies in the world.