Jeff Bezos is going to step down from Amazon CEO on 5 July.
According to some sources he will become Amazon’s executive chairman. Amazon Web Services (AWS) CEO Andy Jassy will take over the top job.
Jeff Bezos stated “We chose this date because it’s a sentimental one for me. It’s the date that Amazon was incorporated in 1994, exactly 27 years ago,”
“I’m very excited to move into the executive chair role where I will focus my energies and attention on new products and early initiatives.”
Earlier this year, Amazon’s founder announced his intention to step down as CEO. The company stated at the time that the transition to Jassy would take place sometime in Q3.
In 2003, Jassy was a member of the AWS founding team. He’s been the CEO of a division he helped to build into a beast since 2016. AWS generated $13.5 billion in revenue in the first three months of 2021. This represents 12% of Amazon’s total revenue for the quarter.
While Amazon’s financial success continues to amaze, Jassy will take up the role during a time of instability for the company. Amazon is being investigated for antitrust violations by regulators in Europe and the United States.