Jeff Bezos to Step Down as Amazon CEO on July 5

Amazon founder Jeff Bezos will step down from his role as the Chief Executive Officer of the company by July 5
After almost 30 years managing the affairs of the company, the reigns will now be handed over to Andy Jassy.
Bezos plans to dedicate his free time to other projects outside the company, including Bezos Earth Fund and Blue Origin

The world’s richest man and the founder of Amazon is set to step down from his role as the Chief Executive Officer (CEO) of the company.

Jeff Bezos

The billionaire is expected to step down on July 5, according to an announcement made during the company’s shareholder meeting on Wednesday.

Andy Jassy will step up as the new CEO of the company, having been at the company for 24 years.

Jassy currently runs Amazon Web Services having risen through the ranks in his time there.

Amazon made this announcement during its February earnings reports but an official date was not given for the transition.

Jeff Bezos appears to be very interested in his new role, stating that he is looking forward to the experience.

The billionaire will now focus more of his time and efforts on other projects outside the company such as Bezos Earth Fund and Blue Origin.

Amazon

Bezos also trusts Jassy to be an outstanding leader after saying that the incoming CEO has what it takes to keep the company alive.

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