Amazon founder Jeff Bezos will step down from his role as CEO. Mr Bezos, 57, will finish as CEO later this year. Instead of being CEO, he will be Amazon's executive chair. The new CEO will be Andy Jassy, who is currently head of Amazon Web Services - a cloud computing business. Mr Bezos has been in charge of Amazon since starting the company in his garage in 1995. It started as an online bookseller but turned into a global marketplace. It branched out into streaming video, music, and audiobooks. It also produces consumer electronics and devices, including Kindle e-readers.
Amazon is one of the world's most valuable Internet companies and is worth around $1.7 trillion. Mr Bezos is now 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. The question I was asked...at that time was, 'What's the Internet?' 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." Mr Bezos also owns a newspaper and space travel company.