Jeff Bezos to Step Down as Amazon C.E.O.

Amazon founder Jeff Bezos announced that he would be stepping down as C.E.O. after building the company into a $1.7 trillion behemoth that became known as “the everything store,”. In the process, he upended the retail industry, turned Amazon into a logistics giant, and expanded into cloud computing, streaming entertainment and artificial intelligence-powered devices. For a time, he was the world’s richest person. Bezos said that he planned to hand over the reins this summer and transition into the role of executive chairman. Andy Jassy, the chief executive of Amazon’s cloud computing division, will be promoted to run the entire company. The change will be effective in the third quarter, which starts in July.

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