WASHINGTON: Amazon.com Inc on Tuesday said founder Jeff Bezos would step down as CEO and become executive chairman, as the company reported its third consecutive record profit and quarterly sales above $100 billion for the first time.
The transition, slated for the third quarter, will make current cloud computing chief Andy Jassy Amazon’s next chief executive officer.
Net sales rose to $125.56 billion as consumers turned to the world’s largest online retailer for holiday shopping, beating analyst estimates of $119.7 billion, according to IBES data from Refinitiv. (AGENCY)
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