Jeff Bezos to formally step down as Amazon CEO on July 5, Andy Jassy to take over

Founder, Chairman, CEO and President of Amazon Jeff Bezos presents a thumbs up as he speaks all the blueprint in which through an tournament about Blue Foundation’s space exploration plans in Washington, U.S., Can also 9, 2019.

Clodagh Kilcoyne | Reuters

Amazon CEO Jeff Bezos will step down on July 5, turning the helm over to cloud-computing boss Andy Jassy.

“We chose that date due to this of it’s sentimental for me, the day Amazon turned into as soon as integrated in 1994, precisely 27 years within the past,” Bezos stated Wednesday at Amazon’s annual shareholder assembly, which turned into as soon as held merely about.

Amazon announced in February that Bezos would plod away his post later this year. Bezos will transition to govt chairman of Amazon’s board and is predicted to commit more time in opposition to initiatives love the Bezos Earth Fund, his Blue Foundation spaceship company, The Washington Put up and the Amazon Day 1 Fund.

The company had saved its succession plans nonetheless, although onlookers speculated that both Jassy or Jeff Wilke, who retired from his post as head of Amazon’s worldwide consumer commercial last August, will possible be Bezos’ eventual successor.

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