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Jeff Bezos says he will pass the baton to Amazon’s new CEO on July 5


Amazon founder Jeff Bezos has chosen a date to step down as CEO

NEW YORK – Amazon founder Jeff Bezos has chosen a date to step down as CEO.

“We chose that date because it’s emotional for me,” Bezos said Wednesday during an Amazon shareholder meeting. He points out that it was exactly 27 years ago in 1994 on the date that Amazon was incorporated.

Seattle-based Amazon.com Inc. announced that Bezos was stepping down as CEO in February, but did not provide a specific date. Jassi, instead, currently runs the company’s cloud-computing business.

With 57-year-old Bezos and $ 167 billion in personal wealth, he won’t go very far. He will become executive chairman at Amazon and focus on new products and initiatives. He also plans to focus on his other ventures, such as his Rocket Ship Company, Blue Origin and his newspaper, The Washington Post.

On Wednesday, Amazon also announced that it would buy Hollywood studio MGM for $ 8.45 billion, with its video streaming service expected to see more shows and movies.

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