Jeff Bezos announced that he is stepping down as Amazon's CEO starting in the third quarter to become the executive chair of the company's board of directors.
In an email to employees on February 2, Bezos said that he would "transition" to the role of executive chair while Andy Jassy will take over as CEO. Jassy, the head of Amazon Web Services, the company's cloud computing platform, has been with the company since 1997.
"Andy is well known inside the company and has been at Amazon almost as long as I have," Bezos said in the email. "He will be an outstanding leader, and he has my full confidence."
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