Twenty-seven years to the day after he incorporated the company he co-founded, Jeff Bezos stepped down as CEO of Amazon yesterday, handing over leadership to Andy Jassy, head of the company’s cloud computing division.
Bezos told employees and shareholders his plans to retire as chief executive officer in February, naming Jassy his successor and announcing he would still have an active role with the company as executive chair, as well as focusing on his and the company’s many side initiatives, including space exploration, combating climate change and philanthropy.
“As executive chair I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post and my other passions,” Bezos said at the time, noting that, “I’ve never had more energy, and this isn’t about retiring.”
Yesterday’s date was chosen because of the symbolism, as Bezos incorporated Amazon on July 5, 1994.
