NEW YORK (AP) — Amazon said Tuesday that Jeff Bezos is stepping down as CEO later this year, a role he’s had since he founded the company nearly 30 years ago.
The move comes a month after Amazon Amazon invested over $278 million by opening two new centers in Italy. Amazon said he’ll be replaced in the fall by Andy Jassy, who runs Amazon’s cloud business. Bezos will then transition into the company’s Executive Chairman.
Bezos built the Seattle-based company from an online bookstore into a behemoth that sells just about everything.