The founder of Amazon, Jeff Bezos is to step down from his role as CEO this year, the company has said.
Amazon said Bezos, when he steps down will take up the role of executive chair.
Bezos will then be replaced by Andy Jassy, who currently serves as head of Amazon Web Services, the company’s cloud business.
Since 1995, Bezos has been Amazon’s CEO after founding the company, helping to push the company’s growth ever since.
Amazon which is an online bookseller is worth over $1.7 trillion due to its global retail prowess.
Bezos is one of the world’s richest people due to the success he has had with Amazon.
The Amazon CEO’s wealth has now reached an estimated $202 billion, according to the Bloomberg Billionaires index as at 2020.
Bezos besides Amazaon owns the space travel company, Blue Origin which founded in 2000 as well as The Washington Post newspaper, which he acquired in 2013.