Jeff Bezos to step down from running Amazon as pandemic profits surge

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Amazon has announced its founder and CEO Jeff Bezos is stepping down from running the business as it turned in record revenues, fuelled by the demand for doorstep deliveries during the pandemic.

The company posted profits for the Christmas quarter which topped $100bn for the first time.

The e-commerce, cloud data storage and entertainment giant said Bezos would become executive chair during the summer, with Amazon Web Services chief Andy Jassy taking the helm.

Bezos said the shift would give him more time to concentrate on his other passions including the fight against climate change and that the company's latest results demonstrated it was the right time to make the transition.

Read more: https://www.standard.co.uk/business/jeff-bezos-step-down-amazon-b918396.html

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