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In brief: Amazon during its recent shareholder meeting confirmed that Andy Jassy will take over as CEO of the e-commerce giant on July 5. The date is significant as it’ll mark 27 years to the day that Jeff Bezos founded Amazon out of his garage.
Bezos, if you recall, announced back in February that he would officially be stepping down as CEO in the third quarter of this year. Jassy joined Amazon in 1997 and was instrumental in crafting the company’s cloud computing platform. In fact, he has led the Amazon Web Services division since its inception.
Why that July 5 for Jassy to takeover?— Deirdre Bosa (@dee_bosa) May 26, 2021
Bezos: "We chose that date because it's sentimental for me, the day Amazon was incorporated in 1994, exactly 27 years ago."
“We pioneered customer reviews, 1-Click, personalized recommendations, Prime’s insanely-fast shipping, Just Walk Out shopping, the Climate Pledge, Kindle, Alexa, marketplace, infrastructure cloud computing, Career Choice, and much more,” Bezos said back when he announced the transition.
“Right now I see Amazon at its most inventive ever, making it an optimal time for this transition,” he added.
The shift will see Bezos transition to the role of Executive Chair. It was later revealed that Adam Selipsky would fill Jassy’s shoes as AWS CEO. Selipsky worked at Amazon for 11 years before taking a job as CEO of Tableau Software in 2016. In 2019, the company was acquired by Salesforce for $15.7 billion.
Without having to directly attend to Amazon's daily affairs, Bezos will have much more free time to devote to his rocket company, the Bezos Day One Fund and the Bezos Earth Fund, among other interests.