Amazon Founder Jeff Bezos to step down as CEO on July 5,2021– Andy Jassy to take over as the new CEO on the same date the E-Commerce Giant was incorporated back in 1994.
Amazon CEO and Founder Jeff Bezos had announced in February that he will be stepping down as the company’s CEO. Andy Jassy, Amazon Web Services Chief, will take over as the new CEO of Amazon.
The employees of Amazon were informed through an email by the CEO about the decision. Jeff Bezos exit announcement stated “I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO. In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives. Andy is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader, and he has my full confidence.”
Jeff Bezos has now announced that he will be passing on the baton to Andy Jassy on July 5,2021. He stated that the date is of sentimental value to him since Amazon was incorporated on July 5, 1994.
After almost 3 decades of heading the Corporate Giant firm, Jeff Bezos decided to step down to a new role as Executive Chairman so he can focus on Amazon’s new initiatives as well as his other ventures.
Andy Jassy has been associated with Amazon from 1997 right after the completion of his degree from Harvard Business School. Jeff Bezos stated that Andy Jassy has been with Amazon almost as long as him and Andy Jassy will contribute to further rise of the company.
Jeff Bezos is still the biggest shareholder of Amazon hence he will continue holding more power over the activities carried over in the company.