Jeff Bezos To Step Down As Amazon’s CEO

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Amazon CEO Jeff Bezos speaks via video conference during a House Judiciary subcommittee hearing on antitrust on Capitol Hill on July 29.

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Bigger And Brawnier: Clout Of Amazon And CEO Jeff Bezos Under Scrutiny

Cloud computing is Amazon’s biggest profit center even as the company continues to profit tremendously as a retailer from pandemic-fueled online shopping. On Tuesday, Amazon reported yet another record-setting quarter, with sales during the holiday season topping $125 billion. Amazon officials are slated to address investors on its quarterly earnings call later on Tuesday.

«Jeff will continue to stay not only very involved, but have his fingerprints on a lot of areas of product development and innovation. And of course, he remains our largest individual shareholder, Amazon Chief Financial Officer Brian Olsavsky told reporters on Tuesday. «So Jeff is really not going anywhere, it’s more of a restructuring of who’s doing what.

Tuesday’s announcement also came on the same day as news that Amazon would pay over $61.7 million to settle the Federal Trade Commission’s charges that the company withheld some tips of its Flex delivery drivers’ over two and a half years. Amazon did not immediately respond to a request for comment.

Editor’s note: Amazon is among NPR’s recent financial supporters.

NPR’s Shannon Bond contributed to this report.