Connect with us

News

Bezos Goes Bye-Bye: Amazon Chief Stepping Away from Shopping Empire

The move stunned the nation.

It has been a long, wild ride for Jeff Bezos, a man who, less than three decades ago, was selling used books out of his basement.

Now, he’s inarguably one of the most influential and wealthy people on the planet, and Amazon.com has become a veritable force to be reckoned with.  His success did make him a target, however, and there are plenty of folks out there who believe that Bezos is a cruel money-hoarder suffering from illusions of grandeur.

In a surprise move this week, the billionaire announced that he’ll no longer remain in his current role at the company.

Jeff Bezos is stepping down from his position as chief executive of Amazon.

The company said Tuesday afternoon that Bezos “will transition to the role of Executive Chair in the third quarter of 2021 and Andy Jassy will become Chief Executive Officer at that time.”

“Amazon is what it is because of invention. We do crazy things together and then make them normal,” Bezos sound in the company’s announcement.

Bezos continued:

“If you do it right, a few years after a surprising invention, the new thing has become normal. People yawn. That yawn is the greatest compliment an inventor can receive. When you look at our financial results, what you’re actually seeing are the long-run cumulative results of invention. Right now I see Amazon at its most inventive ever, making it an optimal time for this transition.”

Amazon’s stock price dipped in early trading on Wednesday, likely on account of the news.

Become an insider!

Sign up for our free email newsletter, and we'll make sure to keep you in the loop.

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it, please mark it as spam. Thank you for partnering with us to maintain fruitful conversation.

INNER TURMOIL: Biden Advisers Reportedly Unsure of President’s Ability to Campaign

Opinion

COMMON SENSE: Bipartisan Bill Looks to Keep A.I. from Running Nuke Security

Opinion

Oregon Grants Homeless the Right to Sue for ‘Harassment’

Opinion

DeSantis Caught Trying to Poach Trump Donors During Overseas Trip

Opinion