New Delhi | Jagran Tech Desk: Amazon founder and billionaire Jeff Bezos on Wednesday announced his decision to stand aside as the Chief Executive Officer of the trillion-dollar company later this year, after 27 years at the helm. Amazon Web Services chief Andy Jassy will take over the role of CEO in the third quarter, while Bezos will transition to executive chair of the company's board.

In a letter to his employees regarding his decision, Bezos said Jassy will prove to be an "outstanding leader" and has his full confidence. "Andy is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader and he has my full confidence," the letter stated.

Jassy joined Amazon in 1997 right after graduating from Harvard Business School. In the company's early years, Jassy worked as the company's marketing manager and later took over the role of Bezos' 'shadow' advisor. Under the latter role, Jassy would provide Bezos council on a number of issues and attend top executive's meetings. In 2006, he founded Amazon Web Services, a subsidiary of Amazon that offers on-demand cloud computing platforms to other companies, individuals, and governments alike.

Three years later, he was promoted to the Chief Executive Officer of the subsidiary, and by the following year, his salary had hit nearly USD 36 million, owing to the division's success. Some of the AWS' notable customer include: American Space agency NASA, US Navy, movie streaming service Netflix, and the Obama Presidential Campaign of 2012. 

With the AWS' success, Jassy became an influential figure in the tech industry. His estimated net worked soared to 377 million by November 2020. The Amazon's new CEO is married to fashion designer Elana Rochelle Caplan. The couple lives in the Capitol Hill neighbourhood of the Seattle, and have two children. 

Posted By: Lakshay Raja