Jeff Bezos Resigning as the CEO of Amazon

Amazon founder Jeff Bezos, the CEO of the world’s largest eCommerce entrepreneur. Resigning. Jeff Bezos is the company’s executive chairman. Bezos will be replaced by Andy Jassy.

“We chose that date because I have an emotional connection,” Bezos said at an Amazon shareholder meeting Wednesday. He explained that Amazon was founded in 1994 exactly 27 years before that date.

In February, Bezos became CEO. Seattle-based announced its resignation but did not give a specific date. Substitute Jassy is currently head of the company’s web services division.

Hollywood studio MGM has raised $ 8.45 billion in hopes of filling the video streaming service with more shows and movies. Amazon announced on Wednesday that it would buy the studio.

As worldwide online sales soared during the covid lockdown, Amazon’s profits rose $ 720 million and revenue rose 44 percent to more than $ 1256 million.

Jeff Bezos said in a letter to Amazon employees that he will be active in important Amazon activities and will focus on charitable activities and other businesses. He also owns The Washington Post and private space company Blue Origin, in addition to Amazon.

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