Jeff Bezos announced the resignation of the CEO of Amazon whom he has coached for the past 27 years.
The reason for Bezos’ resignation is because he wants to give more free time to work on side projects.
“Being the CEO of Amazon is a tough and very consuming responsibility (energy and time),” wrote Bezos.
“When you have this huge responsibility, it’s hard to pay attention to anything else,” he continued.
Stepping down from the throne of CEO, Bezos will become executive chair of Amazon. So, he has more free time to focus on, “new products and various innovations,” he said, as quoted by CNN from Bezos’ resignation letter announced Tuesday (3/2).
Some of the things that will become Bezos’ new “toys” are the Day 1 Fund initiative, the Bezos Earth Fund, Blue Origin, The Washington Post, and a few other things that Bezos is passionate about.
“I never had more energy (when I was CEO of Amazon), and it’s not about retirement. I’m really excited about the impact that I think these organizations can have,” continued Bezos.
The Day 1 Fund is a non-profit organization founded by Bezos that provides a preschool network for the underserved. Those who attend school here receive scholarships and learning methods that apply the Montessori method.
Meanwhile, the Earth Fund is a place provided by Bezos to improve the effects of climate change by providing grants to scientists, activists and other organizations in their efforts to conserve and protect nature.
Meanwhile, Blue Origin focuses on developing infrastructure to create space flight capabilities. Similar to SpaceX, Blue Origin also wants to make space vehicles that are reusable and can make space travel more affordable.