Amazon Founder Jeff Bezos Will Step Down as CEO Later This Year

What Happened:

• On Tuesday, Amazon announced that founder Jeff Bezos will step down as CEO later this year and transition to Executive Chair.

• Bezos will be replaced by Andy Jassy, current head of Amazon Web Services.

• Amazon shares are mostly flat in after-hours trading, thus far.

Developing Story

Photo Source: Len Edgerly

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