Billionaire mogul Jeff Bezos announced Tuesday in a letter to his employees that he will step back as Amazon CEO at the end of the year. In his writing, Bezos assures that he will continue to be linked to the company as CEO, while his current position will be held by Andy Jassy, who until now served as CEO of Amazon web services, an Amazon subsidiary.
"Andy is well known within the company and has been with Amazon almost as long as I have. He will be an outstanding leader and has all my confidence," Bezos has conveyed to his fellow 'Amazonians'. In the letter, the Amazon co-founder has also allowed himself to look back to take stock: "This journey began about 27 years ago. Amazon was just an idea and had no name. The question I was asked most often at the time was: 'What is the Internet?' Fortunately, I haven't had to explain that in a long time. "