Amazon founder Jeff Bezos will step down from as CEO later this year and transition to the role of executive chair, the company said Tuesday. He will be replaced by Andy Jassy, CNN reported.
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Bezos has been Amazon's CEO since its founding in 1995. The report noted that he oversaw its growth from an online bookseller into a $1.7 trillion global retailer, which has also made Bezos into one of the world's richest people.
"This journey began some 27 years ago. Amazon was only an idea, and it had no name," Bezos wrote letter to employees Tuesday. "The question I was asked most frequently at that time was, 'What's the internet?' ... Today, we employ 1.3 million talented, dedicated people, serve hundreds of millions of customers and businesses, and are widely recognized as one of the most successful companies in the world."
