Amazon founder Jeff Bezos announced that Andy Jassy, the current CEO of Amazon Web Services (AWS), would replace Jeff Bezos as CEO of the e-commerce powerhouse on July 5.
Bezos, who is resigning as CEO, said that he chose the date because July 5 is a significant day for him.
“Exactly 27 years ago, the year is 1994,” he said.
Dave Lee, a Financial Times reporter who covers Amazon, tweeted late Wednesday Bezos’s words to reporters.
“Andy is well-known inside the company, having spent almost as much time there as I have. He is going to be an outstanding leader, and I have great confidence in him “As Bezos put it.
“Andy holds himself to the highest ideals, and I can assure you that he will never allow the universe to normalize us,” he concluded.
AWS is expected to provide around half of the company’s revenue.
Amazon Web Services, the company’s cloud segment, reported a $54 billion annualized run rate in the March quarter of this year, up 32% year over year.
Jassy has led AWS from its founding in 2003 and was appointed CEO of the Cloud business in 2016.
Amazon has appointed Adam Selipsky, a Salesforce leader, as the new AWS chief executive.
Bezos, who built an online retailer into a $1.7 trillion digital firm with operations in space, said in February that he will step down as CEO at the zenith of his career to focus on ideas.