Steve Van Andel, the co-chief executive officer of Amway, is retiring at the end of 2018.

Van Andel will continue as chairman of the board while stepping away from day-to-day duties.

Amway President Doug DeVos, who shares the co-CEO title with Van Andel, will continue in those dual roles.

Steve Van Andel said in a statement he’s announcing his retirement now to allow for a seamless transition when his retirement becomes effective on Dec. 31, 2018.

“In the past few years, I have been blessed with a family, and I am looking forward to spending more time with my wife and two kids,” Van Andel said. “Though I will be stepping back from the day-to-day operations of the company, I will remain dedicated to the Amway business and will continue on as both board member and chairman. I firmly believe in the future of Amway and in all of the people that make this business great.”

Van Andel has served as Amway’s co-CEO and chairman since 1995 and is the eldest son of Amway’s co-founder, the late Jay Van Andel.

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