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Amazon CEO Jeff Bezos to resign on July 5

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The founder of Amazon and the richest man on earth, Jeff Bezos has announced that he will officially step down as the CEO of his colossal multi-billion-dollar company, Amazon, on July 5th, 2021.

Bezos emotionally spoke on Wednesday at Amazon’s annual shareholder meeting, where he revealed the reason behind choosing the date: July 5th, 2021. He said that it was a sentimental date for him and a day with a lot of significance as Amazon was founded in 1994, exactly 27 years ago.

Andy Jassy, who currently is the chief executive of Amazon Web Services, will take Bezos’ role as the new CEO of Amazon. Speaking at the shareholder’s meeting, Bezos showed his faith in Jassy who has been working at the company for over 23 years Bezos confidently said that, Jassy will continue to keep Amazon alive and special, with his high level of energy and enthusiasm.

The 187-billion-dollar man, Bezos, founded Amazon in 1994 and turned his venture into what today is worth more than 1.6 trillion. The company has enjoyed his presence at top and marked unbelievable growth under his leadership. However, it is nowhere near a retirement statement from Bezos, as he will only be stepping down as the executive chairman of the Amazon’s executive board and will be looking to focus on his other projects

The change in leadership has come at a time when the company’s profit is surging, but it also faces pressure from dissatisfied workers who have apparently been mistreated during the pandemic. Amidst the rising political scrutiny over the power and sheer size of Amazon, the decision might have come as a surprise for many. 

However, Bezos is not the first person in the rich man list to do so. The founder of Microsoft, and the then richest man, Bill Gates made a similar decision in January 2000, when he stepped down as CEO of Microsoft and became the executive chairman of the company.

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