Washington:
Jeff Bezos stated Tuesday he would give up his function as chief executive of Amazon later this year as the tech and e-commerce giant reported a surge in profit and income in the vacation quarter.
The corporation stated Andy Jassy, who heads Amazon Web Services, would take more than as CEO in the third quarter.
The announcement came as Amazon reported a blowout vacation quarter with income more than doubling to $7.2 billion and income jumping 44 % to $125.6 billion.
Bezos, who has turn out to be the world’s richest individual based on his stake in Amazon, stated he will transition to the function of executive chair in the third quarter to hand more than the CEO function to Jassy.
“Amazon is what it is because of invention,” Bezos stated in a statement.
“Right now I see Amazon at its most inventive ever, making it an optimal time for this transition.”
Jassy joined Amazon as a advertising and marketing manager in 1997 and in 2003 founded AWS, the internet division of the corporation which has been one of the most lucrative but least-recognized units of the tech colossus.
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