Jeff Bezos is letting go of his creation — he’ll step down as CEO of Amazon this fall.

Bezos started the company in 1994 as an online bookseller, but as sales and profits grew, he expanded into other businesses. Today Amazon sells more or less any product you can think of, has its own streaming-video service and is one of the world’s largest website hosts. It is worth $1.6 trillion.

Though he’s relinquishing his operational role, Bezos will transition to executive chair of Amazon’s board, Amazon Web Services head Andy Jassy will become the new CEO. (CNBC)

Tags: ,