Jeff Bezos Is Stepping Down From Amazon
Amazon announced Jeff Bezos is stepping down as CEO almost 27 years after he founded the company to sell books to customers over dial-up modems.
Amazon wasn’t the first bookstore to sell online, but it wanted to be “Earth’s biggest.” When it first launched, a bell would ring in the company’s Seattle headquarters every time an order was placed. Within weeks, the bell was ringing so frequently employees had to turn it off.
But Bezos – who will remain at the company – set his sights on making it an “everything store.” After achieving dominance in retail, the company would go on to become a sprawling and powerful global conglomerate in numerous lines of business.
Today, Amazon is the third-most valuable U.S. company – behind Apple and Microsoft – with a market capitalization of around US$1....