Jeff Bezos To Step Down As Amazon CEO On Same Day He Founded It 27 Years Ago

Jeff Bezos, during the Amazon shareholders' meeting, said that July 5 was a very special date for him. We started the company on this date, 27 years ago.

Jeff Bezos | File Image

Jeff Bezos, CEO of Amazon - the world's largest e-commerce company, to step down from his post on Monday. As he takes a non-executive role, Jeff Bezos is stepping down on the same day he had established Amazon on this very day 27 years ago.

Interestingly, Jeff Bezos started Amazon in the year 1994 as an online bookstore in his garage. Today, it is an online retail giant that sells and distributes all kinds of products across the globe. The company is also working in areas like streaming, music and television, cloud computing, robotics, and AI.

Bezos, during the Amazon shareholders' meeting, had said: "July 5 is a very special date for me. We started Amazon on this day, 27 years ago."

Andy Jesse, head of Amazon Web Services, will take over as CEO, replacing Jeff Bezos. Andy Jesse joined Amazon as a marketing manager in 1997 and founded the company's cloud services division (AWS) in 2003. It is one of Amazon's most profitable units.

After resigning from the post of CEO, Bezos will take over as the executive chairman of Amazon and will also focus on new products and initiatives.

Bezos intends to focus on his other ventures such as Bezos Earth Fund, Blue Origin Space Ship Company, Amazon Day One Fund, and The Washington Post.

In April, Forbes released the list of the world's richest people for the year 2021. Amazon founder and CEO Jeff Bezos have become the world's richest person for the fourth consecutive year in the 35th Forbes list. According to the list, Jeff Bezos has a net worth of $177 billion.