According to a recent announcement, Bezos will be replaced by Andy Jassy.
Bezos has been the CEO of Amazon since it was established in 1995 and he grew the company from an online bookseller into a $1.7 trillion global retail and logistics giant.
Jassy started working for Amazon since 1997 and he currently works as the CEO of Amazon’s cloud business, Amazon Web Services.
In a recent letter to his employees, Bezos said he was excited to take the next step.
He wrote: “Being the CEO of Amazon is a deep responsibility, and it’s consuming.
“When you have a responsibility like that, it’s hard to put attention on anything else. As Exec Chair I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions.
“I’ve never had more energy, and this isn’t about retiring. I’m super passionate about the impact I think these organizations can have.”