Mr. Bezos, the current CEO of Amazon decided to step down from the position. He will be replaced by Andy Jassy, who currently leads Amazon's cloud computing business. The change will be taken place in the second half of 2021 and Jeff will become the Executive Chairman. 

 After the transition, Bezos intends to follow his other passions which he was not able to do before. He wrote to the company as follows:

"As Executive Chair I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions."

"I've never had more energy, and this isn't about retiring. I'm super passionate about the impact I think these organizations can have," he added.