Amazon founder Jeff Bezos has announced that Andy Jassy, the current CEO of Amazon Web Services (AWS), will take over as the CEO of the commerce giant on July 5.
The outgoing CEO Bezos said that he chose the date because July 5 is sentimental one for him.
"It's the date that Amazon was incorporated in 1994, exactly 27 years ago," he said.
Dave Lee, a correspondent with the Financial Times who covers Amazon, late on Wednesday tweeted the remarks by Bezos made to reporters.
"Andy is well known inside the company, and has been at Amazon almost as long as I have. He's going to be an outstanding leader, and he has my full confidence," Bezos said.
"He has the highest of high standards, and I guarantee that Andy will never let the universe make us typical," he added.
It is estimated that about half of the company's revenue comes from AWS.
AWS, which is the Cloud arm of Amazon, logged $54 billion annualised run rate -- a 32 per cent year-over-year growth -- in March quarter this year.
Jassy has led AWS since it was founded in 2003 and was named the CEO of the Cloud arm in 2016.
Amazon has appointed Salesforce executive Adam Selipsky as the new AWS CEO.
Bezos, who built an online bookstore into a $1.7 trillion technology empire reaching into space, announced in February he will be stepping down as CEO at the apex of his career to focus on innovations.
IANS