It is possible to transfer and switch Owner privileges to another user. This can be done by the Owner within the Operator settings in your Dashboard under "Team" > "Operators". Select the respective Operator and make the Operator the new Owner of the account. In the view that now appears, you will find the link "Make this operator the Owner" above the group assignment.
Once the rights are transferred to another Operator, the original Owner's role will be downgraded automatically since there can only be one Owner per account.