Jeff Bezos, CEO of Amazon will step down on July 5, turning the helm to Head of cloud computing Andy Jassy.
"We chose this date because it the day Amazon was founded in 1994, exactly 27 years ago," Bezos said Wednesday at the annual Amazon shareholder meeting.
In February, Amazon announced that Bezos would be leaving the post later this year. Bezos is expected to devote more time to initiatives such as the Bezos Earth Fund, Blue Origin spaceships, the Washington Post and the Amazon Day Fund 1.
The U.S. giant kept its succession plans quiet, however, it is speculated that either Gacy or Jeff Wilk would eventually succeed Bezos.
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