Amazon founder Jeff Bezos will officially resign as CEO (CE0) on July 5th.
The decision was announced by him during the company's annual shareholders' meeting yesterday.
Bezos will hand over his position to Andy Jassy, who currently runs Amazon Web Services after leading the giant company for nearly three decades making him one of the richest men in the world.
However, Bezos still holds the position of Amazon’s executive chairman.
According to Bezos, the date of July 5 is sentimental for him because that date is the date of Amazon’s founding in 1994.
“I am very excited to move into the position of executive chairman as I will be focusing my energy as well as my attention on early products and initiatives,” Bezos said.
Last February, he said he wanted to spend more time on his ‘affairs’ outside Amazon such as the Bezos Earth Fund and Blue Origin.
Adds Bezos, he expects Jassy, who has worked for 24 years at Amazon, to be an incredible leader.
“He has a high standard and I guarantee Jassy doesn’t allow us to look typical,” Bezos explained.
Amazon first announced a change in its leadership during its annual financial report last February by informing Jassy would take over the role of Bezos but the company did not disclose the exact date.
