Amazon boss Jeff Bezos steps down as quarterly sales pass $125bn

Bezos, Jeff

Amazon founder Jeff Bezos will resign as chief executive later this year and step into the role of executive chair.

Bezos, who has run Amazon since the company’s inception in 1994, will hand the reins to Andy Jassy, the boss of its cloud computing business Amazon Web Services (AWS). 

The shock news came as Amazon posted details of its fourth-quarter earnings. The business surpassed $100bn (£732m) in sales for the first time during the crucial Christmas trading period as revenues rocketed during the coronavirus pandemic. 

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