Jeff bezos is stepping down as chief executive of amazon to become executive chairman. Now this marks the biggest change in leadership of the tech giant since bazo 's actually started it in washington garage that would be washington state. More than twenty six years ago yesterday. Amazon said in a statement. That bezos will be succeeded as a ceo in the third quarter by. Andy jazzy. this is mr baso. Says closest lieutenant perhaps his council jerry and the longtime head of the company's booming cloud computing business now beza says fifty-seven handing over the day to day. Rain says amazon's core businesses of online retail and business computing services are booming during the covid nineteen pandemic that is of course which has shifted work and life to the internet well more than ever before company announced his changing role as it reported that revenue in the fourth quarter soared forty four percent to over one hundred and twenty five billion with a b. one hundred twenty five billion dollars surpassing one hundred billion for the first time in three months fan profit for amazon than double talk about going out on top but amazon also faces as you're aware as we've talked about at some length the biggest regular territory challenges its history with multiple federal investigations into its competitive practices and lawmakers drafting legislation. That could force amazon to actually restructure. Its business and its business model tension with regulators and lawmakers as well directly embroiled in mr bezos. Who as you are aware. It was called in to testify in front of congress. Last for the first time basis leadership of amazon made him one of the most respected yes and feared leaders in business as well as well. Astronomically wealthy is currently neck and neck with his rival rocket entrepreneur. Tesla's ceo elon. Musk is the world's wealthiest person in fact forbes list. Mr bazo says wealth at more than one hundred and ninety six billion dollars. Interestingly enough jeff bezos is move makes amazon the latest of today's tech giant's to transition leadership away from the people who started them this according to a piece by Dane on mattioli the wall street journal co founders of google. Well they step back from their management roles at the parents alphabet inc in two thousand nine thousand nine hundred and both apple and.