Amazon CEO Jeff Bezos stepping down as company rakes in record revenues

Amazon.com Inc. founder and CEO Jeff Bezos will step down from his role as the company’s top executive later this year, Amazon said Tuesday.

Bezos will stay on as the company’s executive chairman, Amazon said in a statement, adding that the transition takes place in Q3. Andy Jassy, who currently serves as the CEO of Amazon Web Services, will take over as Amazon’s new CEO.

Amazon didn’t say why Bezos was stepping down.

Bezos said in a statement, simply, that “Amazon is at its most inventive…