Jeff Bezos quits as Amazon CEO

Amazon.com Inc (NASDAQ: AMZN) founder Jeff Bezos will step down from the chief executive role he has held for the entire 27 years of the company’s life.

The online retailer made the shock announcement while revealing its quarterly financial results on Wednesday morning Australian time.

In the third quarter of this year, Bezos will shift to the role of executive chair while cloud computing boss Andy Jassy will become the new chief executive.

Bezos, who is the world’s wealthiest person, wrote in a memo to employees that this “isn’t about retiring”.

“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,” he said.

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