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Exclusive: Amazon Founder Jeff Bezos to Formally Step Down as CEO on July 5

The top news is that Amazon founder Jeff Bezos will soon step down as Chief Executive officer. 

He has recently picked up the date and confirmed he will formally leave the position on July 5. 

I’m Wednesday, he said after him Andy Jassy will take over the CEO role of Amazon. He will transfer the responsibility and management of the retail Giant Amazon who he grew from an internet bookstore to an online shopping behemoth. 

Meanwhile, he expressed his reason why it’s July 5 and he said- We chose that date because it’s sentimental for me in an Amazon shareholder meeting. He further added- that it was exactly 27 years ago on that date in 1994 that Amazon incorporated. 

Earlier the retail Giant Amazon said that Jeff Bezos will leave the position of CEO, but didn’t specify any further details or who will be the replacement, but now everything is revealed and announced. 

Andy Jassy currently runs the company’s cloud computing business and will take over as Amazon CEO on July 5. 

Jeff Bezos, who’s 57 with a personal fortune of $167 billion, won’t be going far. And now he will become executive chair at Amazon and focus on new products, initiatives, and moves to grow business more and more in the long run. Not only this, but he will also be planning to focus on new ventures, such as the rocket ship company, Blue Origin, and his newspaper, The Washington Post. 

The most recent news is on Wednesday the company announced to purchase storied Hollywood studio MGM for $8.45 billion with the hopes of filling its video streaming service with more entertaining shows for the audience. 

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