Amazon CEO Jeff Bezos to Formally Step Down, Turn Reins Over to Andy Jassy

Amazon (NASDAQ: AMZN) is about to make the biggest change to its lineup in more than a quarter-century. Founder Jeff Bezos will formally relinquish his role as CEO, handing the reins to Andy Jassy, the head of Amazon Web Services (AWS), the company's cloud computing unit.

At Amazon's annual shareholder meeting, which was held virtually on Wednesday, Bezos announced that the formal changing of the guard will take place on July 5, marking the 27-year anniversary of the date Amazon was incorporated back in 1994. 

Amazon CEO Jeff Bezos. Image source: Amazon.

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Source Fool.com