Amazon founder Jeff Bezos will stop being CEO. Mr Bezos, 57, will finish later this year. He will be Amazon's executive chair. The new CEO is currently head of Amazon Web Services - a cloud computing business. Mr Bezos started Amazon in his garage in 1995. It started as an online bookseller but turned into a global marketplace. It now does streaming of video, music, and audiobooks. It also makes electronics and devices, like Kindle e-readers.
Amazon is one of the world's most valuable companies. It is worth around $1.7 trillion. Mr Bezos is one of the world's richest people. He spoke about his success. He said: "This journey began some 27 years ago. Amazon was only an idea, and it had no name....Today, we employ 1.3 million talented, dedicated people, serve hundreds of millions of customers...and are widely recognized as one of the most successful companies in the world."