Saudi Press

Saudi Arabia and the world
Saturday, Jul 12, 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

Saudi Press
0:00
0:00
Close
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Russia Formally Recognizes Taliban Government in Afghanistan
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Emirates Airline Expands Market Share with New $20 Million Campaign
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
×