Amazon CEO and founder, Jeff Bezos has stepped down as head of the world’s largest online retailer and transitioning to the role of Executive Chair on Monday.
Amazon arrived when it was incorporated in 1994 and forever changed millions of lives.
“In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives,” Bezos told Amazon employees and investors in an email during the company’s annual shareholder meeting in February.
Andy Jassy, who is one of the company’s most highly paid executives, will take over as Amazon CEO while Bezos’ will assume the position of Executive Chair.
Bezos’ during his time as Amazon CEO has an estimated net worth of $203 billion, based on the Bloomberg Billionaire Index.