Amazon begins new chapter as Bezos hands over CEO role

NEW YORK  - Amazon founder Jeff Bezos stepped down as CEO on Monday, handing over the reins as the company navigates the challenges of a world fighting to emerge from the coronavirus pandemic.

Andy Jassy, who ran Amazon's cloud-computing business, replaced Bezos, a change the company announced in February. Bezos, Amazon's biggest shareholder with a stake worth about $180 billion, will still hold sway over the company he started out of his Seattle garage in 1995. He takes over the role of executive chair, with plans to focus on new products and initiatives.