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Jeff Bezos assures shareholders they're in good hands at final meeting as CEO

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AMZNAmazon CEO Jeff Bezos announces the co-founding of The Climate Pledge at the National Press Club on September 19, 2019, in Washington.Paul Morigi | Getty Images | Amazon

Jeff Bezos on Wednesday stewarded his last shareholder meeting as CEO of Amazon, highlighting the company’s successes in the previous year, while acknowledging it has many challenges ahead.

Bezos announced he’ll formally step down from his role as CEO on July 5, which is the date Amazon was incorporated 27 years ago. He’ll move into the role of executive chairman and hand the reins over to cloud-computing boss Andy Jassy, who Bezos assured investors is well-equipped for the task.

“He has the highest of high standards and I guarantee Andy will never let the universe make us typical,” Bezos said during the meeting, which was held virtually for the second year in a row, due to the coronavirus pandemic. “He has the energy needed to keep alive in us what has made us special.”

Bezos was asked whether Amazon will have any trouble innovating now that it has grown so large and diversified. He acknowledged that Amazon under its new leader Jassy will have to manage newer bets that have no guarantee of being