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.

Mr Bezos founded Amazon as an online bookstore and turned it into a behemoth that sells just about everything.

In the process, he became one of the world’s richest people.