Jeff Bezos will go down as CEO of Amazon in just weeks. He told the annual meeting of the shareholder of the company on Wednesday that his last day in the role will be July 5, depending on the variety. Bezos will become the executive president of Amazon. The Amazon Web Services CEO (AWS) Andy Jassy will take over.
“We chose this date because it is a sentimental for me. It was the date Amazon was incorporated in 1994, exactly about 27 years ago,” Bezos said. “I am very excited to move into the role of President Exed where I will concentrate my energies and activities on new early products and initiatives.”
The Founder of Amazon announced his intention to resign as CEO earlier this year. At the time, the company stated that the transition to Jassy would take place at some point in Q3.
Jassy was part of the Founder AWS team in 2003. Since 2016, he has been a general manager of a division he has helped turn into a juggernaut. In the first three months of 2021, AWS generated $ 13.5 billion. It’s 12% of Amazon’s total revenues for the quarter.
While Amazon continues to enjoy an amazing financial success, Jassy will take the bar for a somewhat trembling period for society. Amazon faces antitrust review of regulators in Europe and the United States. This week, Washington, DC Attorney General Karl Racine continued the company for allegedly “abuse illegally and now his monopoly power by controlling prices on the online retail market and violating the DC law.”
The news from the transition date occurs on the same day, Amazon announced a case to buy MGM for $ 8.45 billion. The idea of the acquisition is quite simple. “MGM has a vast deep catalog of very loved intellectual property,” Bezos said. “With talented people at MGM and Amazon Studios, we can re-imagine and develop this IP address for the 21st century.”
