Amazon founder Jeff Bezos is set to step down as the CEO of the e-commerce giant, which he founded in his garage nearly 30 years ago.
Upon stepping down, Bezos will become CEO of the company, a move he said would give him “time and energy” to focus on his other projects.
Bezos will succeed Andy Gacy, the richest man in the world, who currently leads the cloud computing business at Amazon.
Amazon said the change will happen in the second half of 2021.
“As CEO, I will remain involved in important Amazon initiatives, but I will also have the time and energy I need to focus on the Day One Fund, the Bezos Earth Fund, the Space Exploration Company (Blue Origin) and the Washington Post,” Bezos said in a letter to Amazon employees Tuesday. And other things I’m passionate about. “
“I didn’t have the energy before what I have today, and this has nothing to do with retirement. I am very excited about the impact that I think these organizations can have.”
Bezos, 57, has led Amazon since it began as an online library in 1994.
The company now employs 1.3 million people globally, and has already experienced explosive growth last year, as the pandemic increased online shopping.
The company had sales of $ 386 billion in 2020, an increase of 38% over 2019. Profits nearly doubled, rising to $ 21.3 billion.
The change comes at a time when Bezos is gaining increasing public prominence.
Bezos has struggled with a media-reported divorce, and has become a target for work activists and inequality.
He was also involved in other businesses, such as Blue Origin and The Washington Post.