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Amazon CEO Jeff Bezos will step down from his CEO position to transition to a different one at the company — as the executive chair of the Amazon board in the third quarter of this year, according to an email from Jeff Bezos to employees shared on the company’s website.

The current CEO of Amazon Web Service (AWS) Andy Jassy will replace Bezos as the new CEO of Amazon.

Amazon CEO Jeff Bezos to step down from CEO role in 2021

“I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO,” read the first sentence of Bezos’ email to Amazon employees.

“Being the CEO of Amazon is a deep responsibility, and it’s consuming,” said Bezos in his email. “When you have a responsibility like that, it’s hard to put attention on anything else.”

Bezos has maintained the role of CEO at Amazon since he founded it in 1994 — and since then he’s stood at the top of the rising e-commerce superpower throughout its life, from an online bookstore to a major influencer of not only technology, but also global events.

“As Exec Chair I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions,” added Bezos in his email announcing the upcoming shift in leadership at Amazon.

This is developing news about the Amazon CEO Jeff Bezos stepping down from his position later this year, so be sure to return here for more updates.

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