Jeff Bezos will formally step down as Amazon CEO in July

Jeff Bezos, the CEO of Amazon, will formally step down from his position in the coming months. According to CNBC, Amazon’s cloud computing chief, Andy Jassy, will step into the role of CEO at the eCommerce Giants.

“We chose that date because it’s sentimental for me, the day Amazon was incorporated in 1994, exactly 27 years ago,” Bezos stated during Amazon’s annual shareholder conference which was held virtually this year.

This is not the end for Bezos,57, he will transition to an executive Board chairman at Amazon, where he will spend more time on initiatives like his Blue Origin spaceship company, The Washington Post Newspapers, Amazon Day 1 Fund, and the Bezos Earth Fund.

“Being the CEO of Amazon is a deep responsibility, and it’s consuming. When you have a responsibility like that, it’s hard to put attention on anything else. As Exec Chair I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions. I’ve never had more energy, and this isn’t about retiring. I’m super passionate about the impact I think these organizations can have,” Bezos stated in his letter to employees at Amazon.

Andy Jassy will have a big shoe to fill, but hopefully, he can move Amazon to higher heights. We at Tech Hub Gh wish him and Jeff, the best of Luck.

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