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Jeff Bezos to formally step down as Amazon CEO on July 5 

Founder, Chairman, CEO and President of Amazon Jeff Bezos offers a thumbs up as he speaks throughout an occasion about Blue Origin’s house exploration plans in Washington, U.S., Might 9, 2019.

Clodagh Kilcoyne | Reuters

Amazon CEO Jeff Bezos will step down on July 5, turning the helm over to cloud-computing boss Andy Jassy.

“We selected that date as a result of it is sentimental for me, the day Amazon was integrated in 1994, precisely 27 years in the past,” Bezos stated Wednesday at Amazon’s annual shareholder assembly, which was held just about.

Amazon introduced in February that Bezos would depart his submit later this 12 months. Bezos will transition to government chairman of Amazon’s board and is predicted to dedicate extra time towards initiatives just like the Bezos Earth Fund, his Blue Origin spaceship firm, The Washington Submit and the Amazon Day 1 Fund.

The corporate had saved its succession plans quiet, although onlookers speculated that both Jassy or Jeff Wilke, who retired from his submit as head of Amazon’s worldwide shopper enterprise final August, can be Bezos’ eventual successor.

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