Amazon founder Jeff Bezos announced yesterday that he would be stepping down as C.E.O. after building the company into a $1.7 trillion behemoth that sells so many different items online it became known as “the everything store,” the New York Times reported. In the process, he upended the retail industry, turned Amazon into a logistics giant, and expanded into cloud computing, streaming entertainment and artificial intelligence-powered devices. For a time, he was the world’s richest person. As Amazon reported its latest set of blockbuster financial results, Bezos said that he planned to hand over the reins this summer and transition into the role of executive chairman. Andy Jassy, the chief executive of Amazon’s cloud computing division, will be promoted to run the entire company. The change will be effective in the third quarter, which starts in July.
