Amazon founder Jeff Bezos officially ended his role as CEO, as new leader Andy Jassy begins his leadership of the online retail giant.
Bezos founded Amazon in 1994, leading the company through the emergence of the information age as the nation’s top e-book retailer. The company continued to expand, now known as perhaps the top online retailer in America.
The Amazon leader’s wealth has led to his involvement in space flight. Bezos plans to fly to space with his brother later this month.
CNBC reported, “Amazon announced in February that Bezos would leave his post later this year. Bezos will transition to executive chairman of Amazon’s board and is expected to dedicate more time toward initiatives like the Bezos Earth Fund, his Blue Origin spaceship company, The Washington Post and the Amazon Day 1 Fund.”
“He’ll likely still stay involved, though no longer focusing on the day-to-day and instead able to focus on company-wide initiatives and new products and services,” said Daniel Elman, global technology analyst at Nucleus Research, according to CNN.
“His skills for cutting through noise identifying high-value opportunities cannot be overstated … so it would make sense for Amazon to free him from the operational grind to maximize those areas,” he added.
Jassy, the company’s new CEO, previously served as the leader of Amazon Web Services. Bezos will remain the company’s executive chair, keeping him involved with Amazon despite no longer running its operations.
Amazon will likely continue to grow under its new leadership. Jassy led his previous division to rapid growth, offering confidence in his leadership of the company Bezos founded.