Jeff Bezos to leave the post of CEO of Amazon on July 52 min read

Jeff Bezos, the founder of Amazon will formally venture down from his job as CEO on July 5, he reported during the organization’s yearly shareholder meeting on Wednesday.

Bezos will give control to Andy Jassy, who right now runs Amazon Web Services, following an almost three-decade of driving the internet monster that made him perhaps the most extravagant individual on the planet. Bezos will take the position of Amazon’s executive chairman.

The organization initially declared the leadership change as a feature of its February earnings report, saying Jassy would take over during the financial second from last quarter. Amazon (AMZN) had not recently shared the exact date of the transition.

Read more: Tell Your Stalkers To Mind Their Own Business With Apple’s Latest Privacy Feature.

Well, now we know the date and it’s a memorable and sentimental one as Bezos said — July 5 is the date Amazon was founded in 1994.

Bezos said he anticipates that Jassy — who has been at the company for a very long time and ascended through its positions to run its most profitable division — will be “a remarkable leader.”

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

At the point when Jassy leaves the top post at AWS to run Amazon, he will be replaced by Tableau CEO Adam Selipsky, the company said in March.

For more updates, be with Markedium.

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