Jeff Bezos, American business magnate, who is founder and chief executive officer of one of the world’s largest technological organisations Amazon, steps down from Amazon on Monday - exactly 27 years after he founded it. However, Bezos will retain a crucial role as the executive chair of the organisation. He will not be a part of the daily management and will spend more time on other projects including his Aerospace company Blue Origin.

Axarşaz reports citing foreign media that however, Bezos will retain a crucial role as the executive chair of the organisation. He will not be a part of the daily management and will spend more time on other projects including his Aerospace company Blue Origin.

Within the period, Bezos was CEO, he developed a series of unusual leadership principles - which some argue are the backbone of his success.

The chief of Amazon Web Services, Andy Jassy, will become the new CEO.