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Will pass baton to new Amazon CEO Andy Jassy on July 5: Jeff Bezos


Amazon founder Jeff Bezos has chosen a date to step down as CEO.

Bezos, who developed Amazon from the Web bookstore to on-line purchasing Behem, mentioned Wednesday that Amazon govt Andy Jesse will take over as CEO on July 5.

“We selected that date as a result of it is emotional for me,” Bezos mentioned Wednesday throughout an Amazon shareholder assembly. He factors out that it was precisely 27 years in the past in 1994 on the date that Amazon was included.

Seattle-based Amazon.com Inc. introduced that Bezos was stepping down as CEO in February, however didn’t present a selected date. Jassi, as a substitute, at the moment runs the corporate’s cloud-computing enterprise.

With 57-year-old Bezos and $ 167 billion in private wealth, he will not go very far. He’ll develop into govt chairman at Amazon and give attention to new merchandise and initiatives. He additionally plans to give attention to his different ventures, reminiscent of his Rocket Ship Firm, Blue Origin and his newspaper, The Washington Put up.

On Wednesday, Amazon additionally introduced that it will purchase Hollywood studio MGM for $ 8.45 billion, with its video streaming service anticipated to see extra reveals and films.

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