If you're not an avid golf fan, you'll remember him as the guy who held the green jacket as champions put it on.

But Billy Payne was much more than that.

The Chairman of Augusta National and the Masters has announced he'll step down from those roles on October 16th.  He'll be replaced by Fred Ridley, the former USGA President and 1975 U.S. Amateur Champion.

Augusta National has invested millions of dollars in acquiring land to grow hospitality and it was Payne who oversaw the growth.  Augusta National also admitted its first female members under his leadership.