On July 5, Andy Jassy will take over the CEO post: Jeff Bezos.


Amazon founder Jeff Bezos has picked up a date to resign from the CEO post. On Wednesday, Bezos said that from July 5 onwards, Amazon executive Andy Jassy would take over the CEO post. Jeff Bezos has grown Amazon from an internet bookstore to an online shopping beast since 1994.

During a shareholder meeting on Wednesday, Jeff Bezos said that "We chose that date because it's sentimental for me." Amazon was started 27 years ago, on July 5, 1994, he further said. 

In February, Amazon.com Inc. announced that Jeff Bezos was resigning from the CEO post but didn't because of a particular date. Amazon executive Andy Jassy, who will be the replacement for Jeff Bezos, currently runs the company's cloud computing business. 

57-year-old Founder Bezos, who has a personal net worth of $167 billion, will become executive chair at Amazon and focus on new products and initiatives. He will also focus on his rocket ship company, Blue Origin, and his newspaper, The Washington Post.




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