Why is Jeff Bezos stepping down as Amazon boss?
Image Source: Getty Images  You may have heard that Jeff Bezos, founder and CEO of Amazon, is stepping down from his current role. In this article, well take a look at why one of the most successful business people in the world is taking a step back from his responsibilities. Well also look at what may lie ahead for Amazon and Bezos. Compare stocks and shares ISAs If youre planning to open a stocks and shares ISA, choosing the right platform is important. To help you narrow down the choices, weve created a list of some of the top stocks and shares ISAs. Jeffrey Preston Bezos founded Amazon 27 years ago and turned the business into a global superpower. Hes also managed to make himself one of the richest people in the world whilst doing so! The company originally started as an online bookstore. Over the years, its expanded into just about every industry you can think of. Amazon was one of the few companies in the dot-com boom to actually survive and make it through to the other side of the crash. Part of what has made Amazon so successful has been its ability to be original and take risks. You might be wondering why someone so successful has taken the decision to step down from their position of power. Although Bezos will no longer be CEO, hes not walking away completely. Instead, hes going to be transitioning to the role of executive chair. This will make him more of a strategic adviser to the new CEO. This isnt an unusual move. Its something we have seen in the past from others like Bill Gates at Microsoft. Sometimes, businesses can suffer from founders syndrome (or founderitis). This is where the creator of the company is no longer the best person to run it but still holds a lot of influence. This decision has probably been made with the companys interests at heart. Bezos believes its time for someone else to take the reins. These all-too-common investing errors can cause you to miss out on the long-term wealth-building power that shares can hold. To help you side-step these pitfalls, and move forward on your path to wealth-building, weve created a free report, The 3 Worst Mistakes New Investors Make. Just enter you best email below for instant access to your free copy. Click here! Andy Jassy will take over the role of CEO at Amazon. Jassy has been with the company since 1997 and his most important contribution has been creating and leading Amazons cloud computing platform Amazon Web Services (AWS). You may just think of Amazon as an online retailer, but its cloud services account for the majority of the companys profits. Stepping down gives Bezos the chance to focus on more personal projects such as:  Space travel  Fighting climate change  Overseeing his newspaper, The Washington Post  Along with making himself rich, many investors buying shares in Amazon have also made a lot of money over the years. So we cant blame him for putting himself first during the next period of his life. Its likely there wont be massive changes for the operating of Amazon. Bezos is still going to be sticking around to oversee things and the transition is likely to be smooth. Sometimes, businesses can suffer when they lose a visionary leader, but Amazon is likely to have a lot of brilliant people shaping the future of the company. It will be interesting to see how the stock market and investors react to this news. Only time will tell whether this is a smart move. Get a free initial review lasting up to 1 hour, plus 50 off any follow-up advice. MyWalletHero has sourced you a 50 discount off the cost of advice when you find an independent or whole-of-market financial adviser through Unbiased.co.uk*. All advisers are FCA-regulated, qualified and give fully unbiased advice. To find yourself an adviser fast and for free  use the Unbiased matching tool. Find an adviser now! *This is an offer from one of our affiliate partners. For more information on why and how we work with partners, click here. About the author George Sweeney (DipFA) George is a freelance writer focused on educating others in personal finance and investing. Hes also a qualified financial advisor with years of experience working in insurance.