After 27 years leading Amazon, founder Jeff Bezos will step down as CEO of the company on July 1st and replace AWS CEO Andy Jassy. The move, which is slated for Amazon’s third fiscal quarter, will also include Bezos as Executive Vice Chairman.

In an email to staff posted on Amazon, 57-year-old Bezos said he plans to stay active by putting more effort into projects like the Bezos Earth Fund, Day 1 Fund, Blue Origin, Washington Post and other business passions. “

“As much as I type tap dancing into the office, I’m excited about this transition,” said Bezos in his email. “I’ve never had more energy and it’s not about retiring. I’m very excited about the impact I think these organizations can have.”

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