Amazon Reveals When Bezos Will Step Down as CEO

Amazon CEO Jeff Bezos has announced the date that he will step down from his current role with the company.

Bezos, who helms the country’s second-largest company by revenue, announced on Wednesday during Amazon’s annual shareholder meeting that he will step down on July 5 and be replaced by Andy Jassy, who currently heads Amazon Web Services.

“We chose that date because it’s sentimental for me, the day Amazon was incorporated in 1994, exactly 27 years ago,” Bezos said during the virtual gathering.

After his departure, Bezos will transition into the role of executive chairman of the Amazon board. The company announced that Bezos was leaving the chief executive position in February in its fourth-quarter financial results. It also announced at the time that Jassy, who has been with Amazon since 1997, would be replacing Bezos. (Read more from “Amazon Reveals When Bezos Will Step Down as CEO” HERE)

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