Jeff Bezos says will pass baton to new Amazon CEO on July 5

NEW YORK (AP) — Amazon founder Jeff Bezos has picked a date to step down as CEO. Bezos grew Amazon from an internet bookstore to an online shopping behemoth. He said Wednesday that Amazon executive Andy Jassy will take over the CEO role on July 5. Jassy currently runs the company’s cloud-computing business. Bezos said it was exactly 27 years ago in 1994 on that date when Amazon was incorporated. Seattle-based Amazon first announced that Bezos was stepping down as CEO in February, but didn’t provide a specific date. Bezos won’t be going far: He will become executive chair of the company and focus on new products and initiatives.