Amazon CEO and founder Jeff Bezos decided to step away from his role to focus on other priorities. 

Amazon was founded on July 5th, 1994 in Bellevue Washington. Amazingly, it’s valued at 1.7 trillion dollars.

Over the years, Jeff Bezos accumulated over 196.2 billion dollars from his company Amazon. On February 2nd, he announced in a letter addressed to the “Amazonians” that he would be stepping down from the role of CEO to the role of executive chairman.

The role of the executive chair is the head of the board of directors, the board is who the CEO works with to assist in running the company. As executive chair, however, Bezos will have more time to focus on his other responsibilities and businesses. In an interview with space.com, Bezos stated “…I intend to focus my energies and attention on new products and innovations.” 

These responsibilities include spending more time with his family and running his other companies. For example, he owns the Washington Post, and a company called Blue Origin which is a space exploration company.  Amazon was founded on July 5th, 1994 in Bellevue Washington. 

He will officially accept his position sometime in Q3, or quarter 3 of the company charts, which is between July, and September. This decision came as a surprise to most Amazon customers.