Beautiful Virgin Islands

Tuesday, Jul 15, 2025

Jeff Bezos will step down as Amazon CEO on July 5

Jeff Bezos will step down as Amazon CEO on July 5

Amazon founder Jeff Bezos will officially step down from his role as chief executive on July 5, he announced during the company's annual shareholder meeting Wednesday.

Bezos will hand the reins to Andy Jassy, who currently runs Amazon Web Services, after a nearly three-decade run leading the internet giant that made him one of the richest people in the world. Bezos will become Amazon's executive chair.

The company first announced the leadership change as part of its February earnings report, saying Jassy would take over during the fiscal third quarter.

Amazon (AMZN) had not previously shared the precise date of the transition.

The timing is "sentimental," Bezos said — July 5 is the date Amazon was incorporated in 1994.

"I'm very excited to move into the [executive] chair role, where I'll focus my energies and attention on new products and early initiatives," Bezos said Wednesday. In February, he said he was looking forward to having more time to work on his ventures outside the company, such as the Bezos Earth Fund and Blue Origin.

Bezos said he expects that Jassy — who has been at the company for 24 years and risen through its ranks to run its most profitable division — will be "an outstanding leader."

"He has the highest of high standards and I guarantee Andy will never let the universe make us typical," Bezos said. "He has the energy needed to keep alive in us what has made us special."

When Jassy leaves the top post at AWS to run Amazon, he will be replaced by Tableau CEO Adam Selipsky, the company said in March.

Jassy will take over an increasingly complex and scrutinized business, as evidenced both by news early Wednesday that Amazon is buying MGM for $8.45 billion and by some of the issues raised at the shareholder meeting shortly after.

Among the shareholder proposals introduced during the meeting — all of which were voted down — was one that would have allowed an hourly fulfillment associate to serve on the company's board. While unsuccessful, the motion underscored the criticism Amazon has faced over its treatment of warehouse workers recently, especially following a landmark union drive at one of its warehouses in April, which failed in the face of pushback from the company.

During the shareholder meeting, Bezos was asked about the massive size of Amazon's business. The question came after the District of Columbia filed an antitrust lawsuit against the company Tuesday, alleging it has abused its market dominance in e-commerce to harm competition. (In a statement at the time, Amazon pushed back at the lawsuit, saying the DC attorney general "has it exactly backwards.")

"I'd say we face intense competition from well-established companies everywhere we do business, in every industry," Bezos said. "[Retail is] a very healthy industry and it's far from a winner-take-all situation."

Bezos also listed some of Amazon's newer bets that Jassy will have to manage, including its telehealth offering, Amazon Care, and its satellite internet effort, Project Kuiper.

"None of these ideas are guaranteed to work," Bezos said. "All of them are gigantic investments and they're all risks. ... Our whole history as a company is about taking risks, many of which have failed and many of which will fail, but we'll continue to take big risks."

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Ghislaine Maxwell Says She’s Ready to Testify Before Congress on Epstein’s Criminal Empire
Bal des Pompiers: A Celebration of Community and Firefighter Culture in France
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
Google Secures Windsurf AI Coding Team in $2.4 Billion Licence Deal
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
South African Police Minister Suspended Amid Organised Crime Allegations
Nvidia CEO Claims Chinese Military Reluctance to Use US AI Technology
Hong Kong Advances Digital Asset Strategy to Address Economic Challenges
Australia Rules Out Pre‑commitment of Troops, Reinforces Defence Posture Amid US‑China Tensions
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
U.S. Resumes Deportations to Third Countries After Supreme Court Ruling
Excavation Begins at Site of Mass Grave for Children at Former Irish Institution
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
EU Delays Retaliatory Tariffs Amid New U.S. Threats on Imports
Trump Defends Attorney General Pam Bondi Amid Epstein Memo Backlash
Renault Shares Drop as CEO Luca de Meo Announces Departure Amid Reports of Move to Kering
Senior Aides for King Charles and Prince Harry Hold Secret Peace Summit
Anti‑Semitism ‘Normalised’ in Middle‑Class Britain, Says Commission Co‑Chair
King Charles Meets David Beckham at Chelsea Flower Show
If the Department is Really About Justice: Ghislaine Maxwell Should Be Freed Now
NYC Candidate Zohran Mamdani’s ‘Antifada’ Remarks Spark National Debate on Political Language and Economic Policy
President Trump Visits Flood-Ravaged Texas, Praises Community Strength and First Responders
From Mystery to Meltdown, Crisis Within the Trump Administration: Epstein Files Ignite A Deepening Rift at the Highest Levels of Government Reveals Chaos, Leaks, and Growing MAGA Backlash
Trump Slams Putin Over War Death Toll, Teases Major Russia Announcement
Reparations argument crushed
Rainmaker CEO Says Cloud Seeding Paused Before Deadly Texas Floods
A 92-year-old woman, who felt she doesn't belong in a nursing home, escaped the death-camp by climbing a gate nearly 8 ft tall
French Journalist Acquitted in Controversial Case Involving Brigitte Macron
Elon Musk’s xAI Targets $200 Billion Valuation in New Fundraising Round
Kraft Heinz Considers Splitting Off Grocery Division Amid Strategic Review
Trump Proposes Supplying Arms to Ukraine Through NATO Allies
EU Proposes New Tax on Large Companies to Boost Budget
Trump Imposes 35% Tariffs on Canadian Imports Amid Trade Tensions
Junior Doctors in the UK Prepare for Five-Day Strike Over Pay Disputes
US Opens First Rare Earth Mine in Over 70 Years in Wyoming
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
Bitcoin Reaches New Milestone of $116,000
Biden’s Doctor Pleads the Fifth to Avoid Self-Incrimination on President’s Medical Fitness
Grok Chatbot Faces International Backlash for Antisemitic Content
Severe Heatwave Claims 2,300 Lives Across Europe
NVIDIA Achieves Historic Milestone as First Company Valued at $4 Trillion
Declining Beer Consumption Signals Cultural Shift in Germany
Linda Yaccarino Steps Down as CEO of X After Two Years
US Imposes New Tariffs on Brazilian Exports Amid Political Tensions
Azerbaijan and Armenia are on the brink of a historic peace deal.
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
BRICS Expands Membership with Indonesia and Ten New Partner Countries
×