"He has brought extraordinary experience and leadership to the job of Special Representative for Afghanistan and Pakistan (SRAP)," said US Secretary of State John Kerry.
There has been no announcement for a replacement of Olson who retired yesterday.
A decision on the future of the position has been left to the Trump Administration which would assume office of power on January 20 next year.
"He (Olson) has played an invaluable role in consolidating the progress Afghanistan has made over the past 15 years, including the pursuit of an Afghan-led reconciliation process," Kerry said.
"His commitment to fostering a strong and productive relationship with Pakistan has been a testament to his unwavering diplomatic service," he said.
In a statement, Kerry described Olson as one of the most distinguished diplomats, a career member of the Senior Foreign Service who has been on the forefront of American work in the Middle East, Africa and in Afghanistan and Pakistan.
"In over 34 years of distinguished service, he has served as US Ambassador to both the Islamic Republic of Pakistan and the United Arab Emirates, Coordinating Director for Development and Economic Affairs at US Embassy Kabul, and has held positions in Mexico, Uganda, Tunisia, Saudi Arabia, Ethiopia, Iraq, NATO, as well as a number of leadership positions here in Washington," Kerry said.
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