SEATTLE – Jeff Bezos, the founder of Amazon, will step down as chief executive of the e-commerce giant, turning over the reins to the company’s longtime cloud-computing boss Andy Jassy.
Bezos, who owns the Washington Post, will transition to the role of executive chair in the third quarter, the company said as it announced fourth-quarter earnings.
“If you do it right, a few years after a surprising invention, the new thing has become normal. People yawn. That yawn is the greatest compliment an inventor can receive,” Bezos said in an earnings announcement Tuesday.
The looming transition marks the most radical shake-up in Amazon’s corporate ranks in its nearly 30-year
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