Jeff Bezos has stepped down as chief executive of Amazon, handing over the reins as the tech giant navigates the challenges of a world fighting to emerge from the coronavirus pandemic. Andy Jassy, who ran Amazon’s cloud-computing business, replaces Mr Bezos in a change the company announced in February. Mr Bezos, Amazon’s biggest shareholder with a stake worth about 180 billion dollars (£130 billion), will still hold sway over the company he started in his Seattle garage in 1995. He takes over the role of executive chairman, with plans to focus on new products and initiatives. Mr Bezos founded Amazon as an online bookstore and built it into a shopping and entertainment empire that is the second-largest private employer in the US, behind Walmart.

Source: Irish Independent July 05, 2021 18:22 UTC