Jeff Bezos is officials out as Amazon's CEO and he's being replaced by a man who grew up in the Hudson Valley.

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The world's richest man officially stepped down on Monday, nearly three decades after he founded Amazon in the garage of his home near Seattle.

In February, Amazon's founder and CEO announced he would transition to the role of Executive Chair in Quarter 3 and Andy Jassy would take over as CEO after leading Amazon Web Services since 2003.

"Right now I see Amazon at its most inventive ever, making it an optimal time for this transition," Bezos said in a press release. "Amazon is what it is because of invention. We do crazy things together and then make them normal. When you look at our financial results, what you’re actually seeing are the long-run cumulative results of invention."

Jassy, 53, officially became the CEO of Amazon on Monday. Jassy is said to be Bezos' "shadow" who joined Amazon in 1997, the same year the company went public, Business Insider reports.

Jassy was born in Westchester County. Before heading off to Harvard he graduated from Scarsdale High School.

"I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO. In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives. Andy is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader, and he has my full confidence," Bezos said in a letter to Amazon employees/

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