https://www.vice.com/en_us/article/jgqne4/jeff-bezos-will-no-longer-be-ceo-of-amazon-hes-even-more-powerful

On Tuesday, Amazon founder and CEO Jeff Bezos announced he would be stepping down as chief executive sometime later this year.

The move isn’t an exit, or a demotion. Instead, Bezos is becoming the Executive Chair of the Amazon Board while appointing a new CEO. What this means is that Bezos will still effectively be the head of the company and the new CEO’s boss while taking a step back from day-to-day operations as well as the critical eye of the media.