Jeff Bezos is stepping down as chief executive of e-commerce company Amazon, which he founded 30 years ago in his garage. However, he will continue to be the executive chairman. After that you will give your time and attention to other initiatives.
Andy Jassi, who currently heads Amazon's cloud computing business, will replace Bezos, the world's richest man.
According to the BBC, citing Amazon, the big change will come in the second half of this year.
Bezos, 57, wrote a letter to company officials on Tuesday. There, he said, being the CEO of Amazon is a very responsible job. It is difficult to focus on anything else if you have such responsibilities.
He added that after taking over as executive chairman, he will spend more time on other Amazon initiatives. Bezos will work for Day One Fund, Bezos Earth Fund, Blue Origin, The Washington Post and other places of interest.
He also said that he is not retiring from work now.
Amazon launched as an online bookshop in 1994. At present, the company employs 1.3 million people from all over the world, combining product delivery and streaming video, cloud services and advertising. According to Forbes, Jeff Bezos has a net worth of 196.2 billion.
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