Jeff Bezos to Step Down as Amazon CEO
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Bengaluru/San Francisco: Amazon.com Inc on Tuesday beat estimates for holiday-quarter sales and said Jeff Bezos would move to the role of executive chair in the third quarter. He will be replaced by Amazon Web Services head Andy Jassy as chief executive officer.
Also read: A Look Inside an Amazon Warehouse – Where Profits Are Placed Ahead of Workers
Net sales rose to $125.56 billion in the fourth quarter ended December 31, 2020 from $87.44 billion, beating estimates of $119.7 billion, according to IBES data from Refinitiv.
Amazon was forced to move its two-day shopping event Prime Day, typically in July, to early October, contributing to its holiday sales numbers.
(Reuters)
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