Andy Jassy will be new Amazon’s CEO on July 5th

Andy Jassy will become the new Chief Executive Officer of Amazon and will assume the charge of the CEO of Amazon on July 5th. The news came as Jeff Bezos revealed he will be formally stepping down as CEO to transition to executive chairman of Amazon’s board. Jassy who is the current CEO of Amazon Web Services (AWS), would replace Jeff Bezos as CEO of the entire company in February.

Bezos will be the executive chair of Amazon’s board. He became part of the company in the late ’90s and was tasked with exploring what would become AWS around 2003.