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CNN: Bezos will continue to have enormous influence over Amazon for years, despite stepping down from its leadership today

 Amazon founder Jeff Bezos handed over CEO Andy Gacy on Monday, ending more than two decades of leading the company as it evolved from online bookstore to $1.75 trillion global e-commerce giant, CNN reported.


 The company announced in February that Bezos would move from the position of CEO of Amazon to chairman of the board of directors, and said that he wanted to spend more time on his other projects, including the Washington Post, his space company Blue Origin, and his philanthropy.


 But CNN says that even as he is relegated to a less prominent position in the company, Bezos will still wield enormous influence within Amazon for years to come, as its largest shareholder, long-time mentor to the next CEO, and as chairman of the board.


 Daniel Elman, global technology analyst at market research firm Nickles Research, said Bezos will likely remain involved, if not focused on everyday things, and instead will be able to focus on the company's broad initiatives and on new products and services.


 He continued, "His skills in bypassing noise and identifying high-value opportunities cannot be underestimated, so it would make sense for Amazon to feel freed from the operational burden to make maximum use of these areas."


 The departure of Bezos from the position of CEO of Amazon comes at a critical time for the company. As the Corona epidemic created a huge demand for its services, which led to leaps in profits and in employment. But the company's explosive growth has increased the focus of regulators, some of whom believe it has become too big.