- SKY NEWS - Feb 2, 2021 -
Amazon boss Jeff Bezos to move sideways as Christmas quarter sales exceed $100bn
Coronavirus restrictions on venturing out to the shops helps the e-commerce firm deliver a record performance.
Amazon founder and CEO Jeff Bezos is to step down from running the business as it reported record revenues for its core Christmas quarter, topping $100bn (£73.1bn) for the first time with help from the coronavirus pandemic.
The e-commerce, cloud data storage and entertainment giant said Bezos would become executive chair during the summer, with Amazon Web Services chief Andy Jassy assuming the top job.
Bezos said the shift would give him more time to concentrate on his other passions, including the fight against climate change, and that the company's latest results demonstrated it was the right time to make the transition.