Jeff Bezos to Officially Stepdown as Amazon CEO after 27years

Amazon's founder Jeff Bezos is officially stepping down as the company’s CEO on Monday, which is also the company’s 27th birthday. He’s handing over the baton to Andy Jassy, a 24-year Amazon veteran who built and ran Amazon Web Services (AWS).

Amazon said in February that Bezos' involvement in the company's operations as the executive chair would consist of "one-way door" decisions.

Bezos will now become the executive chair of the company. He said, "I'm very excited to move into the chair role, where I will focus my energies and attention on new products and early initiatives."

Meanwhile, Bezos is set to join the first crewed flight by his space company aboard the reusable New Shepard six-seater capsule. The launch is scheduled for July 20, the anniversary of the 1969 Apollo 11 Moon landing.

Bezos also revealed that he decided to chose the date because July 5 is a sentimental one for him. “It’s the date that Amazon was incorporated in 1994, exactly 27 years ago."