Bezos Picks 'Sentimental' Date to Step Down as CEO

Jeff Bezos won't be returning to work as Amazon's CEO after the Fourth of July weekend. Bezos, who announced his departure in February but didn't set a date, said during Wednesday's annual shareholder meeting that Andy Jassy, head of Amazon's cloud-computing service, will take over on July 5, CNBC reports. "We chose that date because it’s sentimental for me, the day Amazon was incorporated in 1994, exactly 27 years ago," Bezos said. The 57-year-old will remain at Amazon as executive chair and plans to focus on new products, the AP reports. He also plans to devote more time to space company Blue Origin. (Amazon announced its second-biggest acquisition Wednesday.)