Jeff Bezos plans to hand over management of Amazon to Andy Gacy on July 5th

The manager will be changed at the top of the largest online retailer Amazon on July 5th. On Wednesday, company founder Jeff Bezos said at an Amazon shareholder meeting that Andy Gacy would then take over the CEO position. The management change will take place on the 27th anniversary of the founding of the company.

Bezos said at the shareholders’ meeting that Andy Gacy would be “an exceptional manager and has my full confidence”. History has an “emotional value” for him.

Jassy is currently the Head of Thriving Cloud Business. As CEO of the board of directors, Bezos will likely continue to wield significant influence over the group even after he resigns.

The 57-year-old top manager founded Amazon in 1994 and built the company from an online bookstore into a billion dollar group. With an estimated wealth of US $ 190 billion, Bezos is currently the richest person in the world according to the Bloomberg Billionaires Index.

In a memo to Amazon employees in February, Bezos wrote that his decision was not about retirement. He wrote, “I’ve never had more energy before.” In his future role as chairman of the board of directors, Bezos wants to focus his energy and attention on new products and initiatives. He is also gaining more time for other projects such as his foundation, Blue Origin, or the privately owned newspaper, The Washington Post.

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