For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Bezos Says Will Pass Baton To New Amazon CEO On July 5

By
|

New York, May 26 (AP) Amazon founder Jeff Bezos has picked a date to step down as CEO. Bezos, who grew Amazon from an internet bookstore to an online shopping behemoth, said Wednesday that Amazon executive Andy Jassy will take over the CEO role on July 5. "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. Seattle-based Amazon.com Inc. announced that Bezos was stepping down as CEO in February, but didn't provide a specific date. Jassy, his replacement, currently runs the company's cloud-computing business. Bezos, 57 and with a personal fortune of $167 billion, won't be going far.

He will become executive chair at Amazon and focus on new products and initiatives. He also plans to focus on his other ventures, such as his rocket ship company, Blue Origin, and his newspaper, The Washington Post. On Wednesday, Amazon also announced it would buy storied Hollywood studio MGM for $8.45 billion with the hopes of filling its video streaming service with more shows and movies to watch. (AP)

 
Bezos Says Will Pass Baton To New Amazon CEO On July 5

Read more about: amazon
Story first published: Thursday, May 27, 2021, 8:18 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X