Jeff Bezos, the founder and current CEO of Amazon, on Wednesday, cited July 5 as the exact date for his earlier announcement that he would step down as CEO of the company.

According to Bezos at the company’s stakeholder meeting, the current CEO of Amazon Web Services, Andy Jassy, will take over the role from him.

While Bezos pointed out that July 5, 1994, was the date Amazon.com Inc was founded in Washington, he announced that his successor, Andy Jassy, was ready to take on the challenge.

According to Bezos, “He’s been at Amazon almost as long as I have, and he’s an outstanding leader.’

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