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Amazon has announced that Jeff Bezos, CEO of Amazon, will step down later this year and hand over the helm to “Andy Gacy”, while Bezos will move to the Amazon board.
Gacy joined Amazon in 1997 and has led the Amazon Cloud Web Services team since its inception.
In an email to employees, Bezos said, “Amazonians, I am delighted to announce that starting in the third quarter of this year, I will be stepping into the role of CEO of the Amazon board and Andy Gacy will become CEO. “
He added: “With this new position, I intend to focus my energies and my interest on new products and early initiatives… Andy is well known within the company and has been working there for a long time. “
Bezos founded the “Amazon” company in 1993 with his ex-wife MacKenzie, and became the richest man in the world with a net worth of $ 185 billion.
Amazon’s share price rose 1.1% after the announcement.
This news coincides with the earnings report in which Amazon first reported record revenues of over $ 100 billion.
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