Updated: 3 Feb 2021, 8:42
AMAZON has announced that its billionaire owner Jeff Bezos will be stepping down as chief executive after almost 30 years.
He will hand the reins of the technology company to Andy Jassy.
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Who is Andy Jassy?
American businessman Andy Jassy joined Amazon as a marketing manager back in 1997 after attending Harvard.
The 52-year-old went on to found Amazon Web Services in 2003, with a team of 57 people.
In 2016, he was promoted from senior vice-president of AWS to CEO.
When is Andy Jassy replacing Jeff Bezos as CEO of Amazon?
According to the company, the switch in power will take place in the third quarter of 2021.