Amazon founder Jeff Bezos to step down as CEO

Tech giant Amazon says that Jeff Bezos is stepping down as CEO later this year, a role he has had since he founded the company more than 25 years ago. Amazon said he will be replaced in the autumn by Andy Jassy, who runs Amazon's cloud business. Mr Bezos will then become the company's executive chairman. In a blog post to employees, Mr Bezos said he plans to focus on new products and early initiatives being developed at Amazon.