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Jeff Bezos To Step Down As CEO Of Amazon This Year


Jeff Bezos mentioned Tuesday he would surrender his position as chief government of Amazon. (File)

Washington:

Jeff Bezos mentioned Tuesday he would surrender his position as chief government of Amazon later this yr because the tech and e-commerce big reported a surge in revenue and income within the vacation quarter.

The corporate mentioned Andy Jassy, who heads Amazon Net Companies, would take over as CEO within the third quarter.

The announcement got here as Amazon reported a blowout vacation quarter with earnings greater than doubling to $7.2 billion and income leaping 44 % to $125.6 billion.

Bezos, who has grow to be the world’s richest individual based mostly on his stake in Amazon, mentioned he’ll transition to the position of government chair within the third quarter handy over the CEO position to Jassy.

“Amazon is what it’s due to invention,” Bezos mentioned in a press release.

“Proper now I see Amazon at its most ingenious ever, making it an optimum time for this transition.”

Jassy joined Amazon as a advertising supervisor in 1997 and in 2003 based AWS, the online division of the corporate which has been one of the vital worthwhile however least-known models of the tech colossus.

(Aside from the headline, this story has not been edited by NDTV employees and is revealed from a syndicated feed.)

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