Home News Jeff Bezos to formally step down as Amazon CEO on July 5
News - May 26, 2021

Jeff Bezos to formally step down as Amazon CEO on July 5

NEW YORK (AP) — Amazon founder Jeff Bezos has picked a date to step down as CEO.

Bezos, who grew Amazon from an web bookstore to a web based purchasing behemoth, stated Wednesday that Amazon government Andy Jassy will take over the CEO position on July 5.

“We selected that date as a result of it’s sentimental for me,” Bezos stated throughout an Amazon shareholder assembly Wednesday. He defined that it was precisely 27 years in the past on that date in 1994 that Amazon was included.

Seattle-based Amazon.com Inc. introduced that Bezos was stepping down as CEO in February, however did not present a particular date. Jassy, his alternative, at the moment runs the corporate’s cloud-computing enterprise.

Bezos, 57 and with a private fortune of $167 billion, will not be going far. He’ll turn into government chair at Amazon and concentrate on new merchandise and initiatives. He additionally plans to concentrate on his different ventures, reminiscent of his rocket ship firm, Blue Origin, and his newspaper, The Washington Submit.

On Wednesday, Amazon additionally introduced it will purchase storied Hollywood studio MGM for $8.45 billion with the hopes of filling its video streaming service with extra exhibits and films to look at.

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