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Amazon: Jeff Bezos resigns as CEO on July 5!

Amazon founder Jeff Bezos will officially step down as CEO on July 5, as he said himself during the annual meeting of the company's shareholders at 25 May. Bezos will hand over the reins to Andy Jassy Who currently manages the Amazon Web Services - after about three decades at the helm of his giant E-commerce which made him one of the richest people in the world. Jeff Bezos will assume the position of Executive Chairman of Amazon.

The company first announced a change of leadership as part of its February earnings report, saying Jassy would take over as CEO in the third quarter of the fiscal year. Amazon did not, however, announce the exact date of the transition.

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Amazon: Jeff Bezos resigns as CEO on July 5!

Bezos stated the following: "We chose this date because it has emotional value for me. It's the date Amazon was founded as a company in 1994, exactly 27 years ago. "I am very excited to take over as CEO, where I will focus my energy and attention on new products and initiatives."

In February, Bezos said he was looking forward to having more time to work in his off-company businesses, such as Bezos Earth Fund and Blue Origin. He also said that he expects Jassy - who has been in the company for 24 years - to be an excellent leader.

"Andy has the highest of high standards and I guarantee he will never let the universe make us typical. He has the right energy to keep alive in us what has made us special. "

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When Jassy leaves AWS to take over Amazon, he will be replaced by Tableau CEO Adam Selipsky, the company said in March.

Jassy will take on an increasingly complex business, and is being considered more and more, as evidenced by the news that Amazon is buying the MGM for $ 8,45 billion, as well as some of the issues raised at the shareholders' meeting a little later.

Jeff Bezos
Jeff Bezos and Adam Selipsky

Among the proposals of shareholders presented during the meeting - all were rejected - was one that would allow an hourly performance associate to serve on the company board. Although unsuccessful, the proposal underscored Amazon's recent criticism of the treatment of warehouse employees.

Proposal: Jeff Bezos: We need to do a better job for our employees!

In addition, Bezos was asked during the shareholders' meeting about the huge size of Amazon's business. The question arose when the District of Columbia filed a lawsuit against the company May 25 for antitrust breach, claiming the company was abusing its dominance in the e-commerce market to the detriment of competition.

Jeff Bezos
Amazon: Jeff Bezos resigns as CEO on July 5!

Bezos stated the following: "I would say that we face intense competition from established companies wherever we operate, in every industry. "Retail is a very healthy industry and it is far from a situation where the winner gets it all."

He also mentioned some of the newest Amazon bets that Jassy should manage, such as Amazon Care and Project kuiper. Specifically, Bezos pointed out the following: "There is no guarantee that these ideas will work. "It's all huge investments but also risks. Our whole history as a company is about taking risks, many of which have failed and many of which will fail, but we will continue to take big risks."

Every accomplishment starts with the decision to try.