- Jeff Bezos is stepping down as CEO of Amazon, and will transition into a different executive role.
- Bezos founded Amazon in 1996, growing it from an online bookstore to the largest retail company in the world - and becoming the richest man on the planet in the process.
- The 57-year-old will remain as Amazon's executive chairman. Andy Jassey, who headed up Amazon's cloud computing division, will take over as CEO.
- The news comes on the same day Amazon posted a record $125 billion in quarterly sales.