Amazon’s CEO is stepping down. Jeff Bezos is leaving the helm of Amazon.
Bezos’s last day has been announced. He’s stepping down on July 5 and new CEO Andy Jassy is stepping up.
“We chose that date because it’s sentimental for me,” Bezos said during an Amazon shareholder meeting Wednesday. He explained that it was exactly 27 years ago on that date in 1994 that Amazon was incorporated.
Bezos’s exit was announced in February. Jassy is the current CEO of Amazon Web Services, the division of Amazon that helped the company make a profit.
Bezos will continue at Amazon as Executive Chairman and will continue to oversee Blue Origin, his space exploration company.