Jeff Bezos to step down as Amazon CEO

Jeff Bezos

US billionaire, Jeff Bezos, is planning to step down as Chief Executive Officer (CEO) of Amazon.

His annual letter to Amazon’s shareholders revealed this.

In the third quarter of 2021, Mr Bezos will be handing over to incoming Amazon CEO, Andrew Jassy.

Mr Jassy made $35 million in 2020 on a large stock grant, US Securities and Exchange Commission (SEC) filings said on Thursday, April 15, 2021.

Mr Bezos earned $1.6 million for 2020, unchanged from 2019 and mostly for security, Amazon noted in its annual proxy statement.

Mr Bezos in his letter said his role was “a hard job with lots of responsibility.”

“Andy is brilliant and has the highest of high standards. I guarantee you that Andy won’t let the universe make us typical. He will muster the energy needed to keep alive in us what makes us special. That won’t be easy, but it is critical. I also predict it will be satisfying and oftentimes fun,” according to Mr. Bezos.

By Melvin Tarlue