Amazon founder Jeff Bezos has picked a date to step down as CEO. Andy Jassy will take over the CEO role on July 5.
Bezos said the date is sentimental because it will mark 27 years since the company was incorporated.
Amazon announced Bezos’ departure from his CEO role back in February.
After he steps down, he will become executive chair at Amazon. In that position, he will focus on new products and initiatives.
The announcement comes on the same day Amazon announced it had bought MGM for $8.45 billion.