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Jeff Bezos to step down as Amazon CEO

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The Amazon’s founder and chief executive, Jeff Bezos, said on Tuesday he would hand over the company’s reins in July.

However, in an email sent to staff, Bezos said he would transit into the role of executive chairman in the e-commerce giant.

A statement by Amazon said the Chief Executive of the company’s Cloud Computing Division, Andy Jassy, would be promoted to run the entire company.

Bezos said “As much as I still tap dance into the office, I’m excited about this transition.

“As executive chairman, I intend to focus my energies and attention on new products and early initiatives.”

Bezos has successfully transformed the company he founded as an online bookseller in 1996 into a $1.7 trillion behemoths with more than 1.2 million employees.

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