Amazon boss Jeff Bezos chooses a “sentimental” date to step down

The farewell is getting closer: Amazon’s CEO and founder Jeff Bezos would like to give up power at the largest online retailer after more than 20 years. Now he has announced the date of his resignation – and he was not chosen by chance.

After almost three decades at the helm of Amazon, the founder of the company, Jeff Bezos, plans to hand over the management of the company on July 5th. His designated successor Andy Jassy will be “an extraordinary director and has my full confidence,” said Bezos at a shareholders’ meeting on Wednesday (local time). The date has “sentimental” value to him as the 27th anniversary of the company’s founding.

Andy Jassy, ​​who currently heads the Group’s cloud computing division, has been with Amazon for almost as long as Bezos. The departing company founder becomes chairman of the board of directors and thus remains influential in the group. At the same time, he wants to devote himself more to other projects, such as his space company Blue Origin.

Market value 1.4 trillion euros

Bezos founded Amazon in Seattle in 1994 as a small online bookshop. Since then, Amazon has developed into one of the largest internet companies in the world, which is not only active in online trading, but also in streaming music and films, in the field of cloud computing and in artificial intelligence. On Wednesday the company announced to buy the legendary Hollywood studio Metro Goldwyn Mayer (MGM) for around 6.9 billion euros.

Amazon employs more than a million people worldwide, with around 800,000 most of them in the United States. The company currently has a market value of around 1.69 trillion dollars (just under 1.4 trillion euros) – ten times as much as ten years ago. Bezos himself became the richest person in the world; most recently he had a fortune of nearly $ 197 billion, according to the financial magazine “Forbes”.


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