Bezos "Retiring on July 5 to coincide with Amazon's Founding Anniversary"

Andy Jassy, an Early Amazon Member, Selected as Successor CEO

▲Amazon CEO and Founder Jeff Bezos [Image source=Reuters Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] Jeff Bezos, the founder of Amazon who announced he would step down as CEO this year, officially declared that he will retire on July 5.

According to CNBC on the 26th (local time), during Amazon's annual shareholders' meeting held online that day, Bezos stated, "I chose July 5 as my retirement date because it is a meaningful day for me," adding, "It is the day I founded Amazon in 1994, exactly 27 years ago."

He also added that his successor, Andy Jassy, will take over the CEO position.

Bezos had already announced in February that he would step down from frontline management in the third quarter of this year and move to the position of chairman of Amazon's board.

Going forward, Bezos plans to focus on new products and businesses. He stated that he will devote more time to ventures such as the Bezos Earth Fund, which invests in new technologies for the transition to clean energy, the space exploration company Blue Origin, the daily newspaper The Washington Post, and the Amazon Day One Fund, which supports education for the homeless and low-income groups.

Jassy, named as Bezos's successor, joined Amazon in 1997 when it was an internet bookstore with 200 employees and is one of the early members who helped grow the company. In particular, he created and executed the computing platform for Amazon's cloud business, which became a core revenue source, and has led the Amazon Web Services (AWS) division.

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