Amazon CEO, Jeff Bezos To Step Down From Post On July 5

• ByStartupStory     |    May 27, 2021

Amazon CEO, Jeff Bezos to step down as CEO on July 5. Amazon executive Andy Jassy will take over the CEO role on July 5.

“We chose that date because it’s sentimental for me,” Amazon CEO, Jeff Bezos said during an Amazon shareholder meeting on Wednesday. He explained that it was exactly 27 years ago on that date in 1994 that Amazon was incorporated.

Amazon CEO, Jeff Bezos was supposed to step down as CEO earlier in February, but didn’t provide a specific date. Jassy, his replacement, currently runs the company’s cloud-computing business.

Amazon CEO, Jeff Bezos said he expects that Jassy, who has been at the company for 24 years and risen through its ranks to run its most profitable division, will be “an outstanding leader.”

“He has the highest of high standards and I guarantee Andy will never let the universe make us typical,” Amazon CEO, Jeff Bezos said. “He has the energy needed to keep alive in us what has made us special.”

Meanwhile, on Wednesday, Amazon 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.

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