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Jeff Bezos to step down as Amazon CEO, become chair of the board

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MANDEL NGAN/AFP via Getty Images

By CATHERINE THORBECKE, ABC News

(SEATTLE) — Amazon announced Tuesday that Jeff Bezos will be stepping down as CEO, and transitioning to executive chair of the company’s board, in the third quarter of this year.

Andy Jassy, the current chief executive of Amazon Web Services, will replace Bezos as the e-commerce giant’s new CEO.

This is a developing story. Please check back for updates.

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