Jeff Bezos, Amazon’s founder, will step down as CEO

Associated Press Feb 2, 2021

Jeff Bezos, Amazon’s founder, will step down as CEO

Associated Press Feb 2, 2021

Bezos founded Amazon in his garage in 1994. David McNew/Getty Images

Amazon said Tuesday that Jeff Bezos is stepping down as CEO later this year, a role he’s had since he founded the company nearly 30 years ago.

Amazon said he’ll be replaced in the fall by Andy Jassy, who runs Amazon’s cloud business. Bezos will then become the company’s executive chairman.

Bezos founded Amazon as an online bookstore and turned it into a behemoth that sells just about everything. In the process, he became one of the world’s richest people.

This is a developing story — updates to follow.

Stories You Might Like

What will Amazon CEO Jeff Bezos do as executive chair?

Is Jeff Bezos still in charge at Amazon?

What challenges face Amazon without Bezos at the helm?

Reaching far and wide: Minimum wage, vaccine rollout and the river of retail

Amazon’s 1994 launch offered “proof of concept” for e-commerce

When Bezos and Branson head into space, they and their companions fly at their own risk

There’s a lot happening in the world. Through it all, Marketplace is here for you.

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.