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Jeff Bezos step down as CEO of Amazon, Andy Jassy will take over as CEO in the fall

Jeff Bezos, Amazon Founder will step down later this year as CEO, a role he’s had for nearly 30 years, to become Executive Chairman, the company announced Tuesday. 57 yrs old Mr Bezos, will be replaced by Andy Jassy, who heads Amazon’s cloud-computing business.

Bezos, who started Amazon 27 years ago as an internet bookseller, said in a note to employees posted on Amazon's website, "As Executive Chair I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions." He added, "I’ve never had more energy, and this isn’t about retiring."

Andy Jassy, Chief of Amazon web services (AWS) will replace billionaire founder Jeff Bezos as Amazon's next CEO.

Jassy, who is 53 yrs old now, joined Amazon in 1997 and has an MBA degree from Harvard Business School. During the early stage of his career, he was the project manager at MBI. In September, Jaasy told in Harvard Business School podcast “I took my last final exam at HBS, the first Friday of May in 1997 and I started Amazon next Monday.” Andy Jassy is married to Elana Rochelle Caplan and is the father of two children. He is also self-proclaimed sports and music fan.

He founded Amazon's AWS in 2006, Amazon's cloud service platform used by millions of businesses across the world. In early the 2000s, he was working as Technical assistant for Mr Bezos. He was an important person who led Amazon to look outside just book sales.

Apart from his work at Amazon, Jassy loves sports and is a part-owner of the new Seattle National Hockey League franchise, the Kraken, which will join the league in the 2021-2022 season. He has stocks over $30 million at Amazon.