(GNB Desk)- Amazon CEO Jeff Bezos will hand over the position of CEO on July 5 to Andy Jassy, who runs the Amazon Web Services (AWS) division.
In February, Bezos said he is giving up the CEO role to focus on other ventures, including the Bezos Climate Fund, the Washington Post and Blue Origin, Bezos’ space flight company.
Bezos has spent three decades leading and running the Internet behemoth that gave him one of the wealthiest people in the entire world.
Bezos, speaking Wednesday at Amazon’s annual shareholder — his last as CEO — announced that he will step aside as chief exec on July 5, whereupon Andy Jassy, who is currently CEO of Amazon Web Services, will take over the role.
About the July 5 date, Bezos said, “We chose that date because it’s sentimental for me: the day Amazon was incorporated in 1994, exactly 27 years ago.”
Amazon is betting on the future of its cloud services. “I’m very excited to move into the executive chair role, where I’ll focus my energies and attention on new products and early initiatives,” Bezos said Wednesday.
Jassy will oversee some of the most complex businesses, in particular the new purchase that Amazon made buying MGM for $8.5 billion.
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