founder of Amazon.com, Jeff Bezos, will step down from his role as CEO (Chief Executive Officer). Mr Bezos, 57, announced he will finish as CEO later this year. Instead of being CEO, he will take on new role of Amazon's executive chair. He will pass on position of CEO to Andy Jassy. Mr Jassy is currently head of Amazon Web Services - cloud computing business. Mr Bezos has been in charge of Amazon since founding company in his garage in 1995. company started as online bookseller but turned into global online marketplace. It branched out into streaming video, music, and audiobooks. It also produces consumer electronics, including Kindle e-readers, Fire tablets and Echo devices.
Amazon is one of world's biggest Internet companies and one of most valuable. It is worth around $1.7 trillion. company has made Mr Bezos one of world's richest people. Bezos commented on his success. He said: "This journey began some 27 years ago. Amazon was only idea, and it had no name. question I was asked most frequently at that time was, 'What's Internet?' Today, we employ 1.3 million talented, dedicated people, serve hundreds of millions of customers and businesses, and are widely recognized as one of most successful companies in world." Mr Bezos also owns Washington Post newspaper and space travel company Blue Origin, which aims to go to Mars.