Amazon announced that Andy Jassy – CEO of Amazon Web Services would be taking over as CEO of the entire company at a shareholder meeting that was held in May. Jeff Bezos will be handing the baton of CEO over to Andy Jassy today which also marks the company’s 27th incorporation anniversary. As he takes on the position of CEO today, here are some things to know about Andy Jassy.
Andy Jassy was born on the 13th of January 1968. He is an American businessman, the outgoing CEO of Amazon’s subsidiary Amazon Web Services where he worked assiduously to take the company to greater heights. He was raised in Scarsdale and is married with two children. He is an Alumni of Harvard College and Harvard Business School.
He was advertising manager of the Harvard Crimson while he was at Harvard College. After graduating from Harvard, he worked for MBI – a collectibles company, as a project manager. He started a company with a colleague from MBI but this was short-lived. In 1997, alongside other colleagues from Harvard Business School, he joined Amazon. He was tasked with exploring what would become Amazon Web Services – a cloud computing service in 2003; an idea he and Jeff Bezos came up with. He was Senior Vice President at AWS before he became CEO of the subsidiary. He won the Financial Times’ Person of The Year award in 2016. He is one of Amazon’s most trusted executives.
Andy Jassy is one of the minority owners of the Seattle Krakenof the National Hockey League. In 2018, he received a restricted stock unit award of 10,000 shares (valued at $30,089,100 as of July 26, 2020). He earned a base compensation of $175,000 for his work as CEO of Amazon Web Services and got a restricted stock unit award of 4,023 shares (valued at $12,104,844.93 as of July 26, 2020) in 2020.
He is taking on his new role as CEO with 61,000 shares which will vest for ten years. The shares are a financial acknowledgment of Amazon’s high-priority change in leadership. The shares that he will receive are worth more than $200 million. He owns 0.02 percent of Amazon’s stock, which according to FactSet is worth nothing less than $300 million.
Former President/CEO of Tableau Software Inc. Adam Selipsky will take over as the CEO of Amazon Web Services after Andy Jassy. Adam Selipsky worked in Amazon’s Web Services before starting Tableau Software Inc. – a data visualization and analytics company. He was once the Vice President of Marketing, Sales, and Support at Amazon Web Services.
