Amazon founder Jeff Bezos has picked a date to step down as CEO.
Bezos, who grew Amazon from an web bookstore to a web based purchasing behemoth, mentioned Wednesday that Amazon govt Andy Jassy will take over the CEO role on July 5.
“We selected that date as a result of it’s sentimental for me,” Bezos mentioned throughout an Amazon shareholder assembly Wednesday. He defined that it was precisely 27 years in the past on that date in 1994 that Amazon was integrated.
Seattle-based Amazon.com Inc. announced that Bezos was stepping down as CEO in February, however didn’t present a selected date. Jassy, his substitute, at the moment runs the corporate’s cloud-computing enterprise.
Bezos, 57 and with a private fortune of $167 billion, gained’t be going far. He’ll change into govt chair at Amazon and concentrate on new merchandise and initiatives. He additionally plans to concentrate on his different ventures, reminiscent of his rocket ship firm, Blue Origin, and his newspaper, The Washington Submit.
On Wednesday, Amazon additionally introduced it could purchase storied Hollywood studio MGM for $8.45 billion with the hopes of filling its video streaming service with extra exhibits and flicks to observe.