Jeff Bezos, world's second richest person to give Amazon reins to Andy Jassy.

The world second richest person Jeff Bezos, the Founder and the CEO of Amazon will step down from his post. He founded Amazon, the E-Commerce and Cloud Service giant 27 years ago. He is currently 57 years old and will be replaced by Andy Jassy in the July - September quarter and is right now the CEO of Amazon Web series (AWS).

Bezos will become the Executive Chairman where he will focus on the "new products and early initiatives". He began this business as an internet bookseller 27 years ago and is now one of the world's most valuable companies. On Tuesday only Amazon reported quarterly sales above $100 billion for the first time.

Andy Jassy joined Amazon in 1997 after Harvard Business School, founded AWS and now is all set to become the CEO of

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