Jeff Bezos steps down as Amazon CEO

According to the details, Andy Jassy is now listed as the company’s that worth almost $1.8 trillion new CEO, while Bezos is listed as Executive Chair.

The July 5th handover date was previously announced in a shareholder meeting in May.

Bezos’ successor, Andy Jassy, joined the company shortly after graduating from Harvard Business School in 1997 and has led AWS since the team was founded in 2003. He was officially named the division’s CEO in 2016.

At the end of 2020, AWS controlled around a third of the total cloud computing market, which is about as much as its closest rivals Microsoft and Google, combined.

Jassy’s route is similar to that of current Microsoft CEO Satya Nadella, who previously ran the company’s Azure cloud business.

Last month, a bombshell article claimed to have seen Bezos' tax returns - and alleged Mr Bezos paid no tax in 2007 and 2011.

It was a stunning claim about the world's richest man.

Other negative stories about Amazon, its ruthlessness, its claims of monopolistic behaviour, haven't helped Bezos' reputation.

However, many people who work closely with him don't recognise the characterisation that he is uncaring or selfish.