Jeff Bezos Will Step Down as Amazon CEO on July 5th

Will Hyatt

Amazon’s founder Jeff Bezos will officially step down from his CEO position on July 5th, he announced during a company meeting this Wednesday.

Bezos will hand the duties of CEO off to Andy Jassy, who is currently running Amazon Web Services, after nearly a three-decade run leading the internet giant that made him the richest man in the world.  Bezos plans to become Amazon’s executive chair.

The company first released the news along with their February earning report, saying that Jassy would be taking over at the beginning of the third quarter.  Amazon had not previously shared the precise date of the change.

“I can’t believe after all of these years on the top of the food chain he is going to be stepping down.  I mean he is the richest person in the world so he’s got enough money to take him to the end.  Hopefully, no great changes are made after the change,” says sophomore Quinton Turpin.

Bezos has said that he expects Jassy – who has been working at Amazon for or 24 years and risen all of the way through the ranks-will be an outstanding leader.  “He has the highest of high standards and I guarantee Andy will never let the universe make us typical,” Bezos said. “He has the energy needed to keep alive in us what has made us special.”

Jassy will take over an increasingly complex business, as evidence both by early Wednesday that Amazon is buying MGM for $8.45 billion.

Bezos has also listed some newer businesses that Jassy will have to manage including its telehealth offering, Amazon Care, and its satellite internet attempt.