Amazon (NASDAQ:AMZN) has announced today that founder and CEO Jeff Bezos is planning to step down as CEO, and Amazon Web Services CEO Andy Jassy — who oversaw Amazon’s crypto product offerings — will replace him.
In his letter to employees, Bezos said that he would be transitioning to the role of executive chair of the Amazon board, where he would “focus my energies and attention on new products and early initiatives.” The transition is scheduled for later in the year.