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Bezos out, Andy Casy the new CEO at Amazon

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Andy Jassy on Monday assumed office as Chief Executive of Amazon.

He took over from Amazon founder, Jeff Bezos, who had been at the helm for more than two decades and led the company through its evolution from online bookseller to $1.75 trillion global retail, logistics and internet behemoth with 1.2 million employees.

Bezos had hinted about his exit as the CEO in February, saying he intends to focus his energy and attention on new products and early initiatives as executive chairman.

READ ALSO: Jeff Bezos to step down as Amazon CEO

His exit comes at a critical time for Amazon, especially as the COVID-19 pandemic created massive demand for its services.

With a net worth of more than $200 billion as of June, Bezos remains the richest man in the world.

 

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