Jeff Bezos to Step Down As Amazon CEO; Andy Jassy To Replace Him

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During an annual meeting of Amazon held on May 26, Jeff Bezos informed that he will officially step down as the company’s CEO on July 5.

Bezos will be succeeded by Andy Jassy, who currently looks after Amazon Web Services.

The 57-year-old business tycoon will become executive chair at Amazon and focus on new products and initiatives.

“I’m very excited to move into the [executive] chair role, where I’ll focus my energies and attention on new products and early initiatives,” Bezos said.

“We chose that date because it’s sentimental for me,” Bezos added.

It may be mentioned here that Amazon was founded on July 5, 1994, and the company grew from an internet bookstore to an online shopping behemoth.

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