Amazon founder makes major announcement, how will it affect business?

According to reports of Baaghi TV, Amazon founder and CEO Jeff Bezos, to step down from position by the end of the year.

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According to reports, the business tycoon is set to give up his position as the CEO during the third quarter of the year. The decision was announced by the company on Tuesday.

It is to be noted that the Bezos’s role as executive will be replaced by Amazon Web Services (AWS) CEO, Andy Jassy. The reports were confirmed by Amazon.

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What this move will mean for business, is yet to be determined. However, Bezos has stated that a few years after a “surprising invention, the new thing has become normal”, according to reports. He added that, “When you look at our financial results, what you’re actually seeing are the long-run cumulative results of invention. Right now I see Amazon at its most inventive ever, making it an optimal time for this transition.”

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