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.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.