Jeff Bezos To Step Down As CEO Of Amazon

Tech Crunch reports:

Amazon founder and current CEO Jeff Bezos will be transitioning to Executive Chair of the company sometime in Q3 of this year, with current AWS CEO Andy Jassy taking over the top executive role at the commerce company. Amazon announced the news alongside its earnings results on Tuesday.

Amazon initially rose after-hours as the market digested both the company’s earnings and its CEO news. The company beat on both earnings per share, and revenues. That makes it hard to untangle the market’s response to its busy set of announcements.