Amazon Founder and CEO Jeff Bezos, seen here at a 2019 conference, said he would transition to become executive chair of the tech giant later this year as Andy Jassy becomes CEO.
WASHINGTON: Jeff Bezos said Tuesday he would give up his role as chief executive of Amazon later this year as the tech and e-commerce giant reported a surge in profit and revenue in the holiday quarter.
The company said Andy Jassy, who heads Amazon Web Services, would take over as CEO in the third quarter.
The announcement came as Amazon reported a blowout holiday quarter with profits more than doubling to $7.2 billion and revenue jumping 44% to $125.6 billion.
Bezos, who has become the world’s richest person based on his stake in Amazon, said he will transition to the role of executive chair in the third quarter to hand over the…
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