Key Points
- Amazon CEO and founder Jeff Bezos announced that it would step down as the CEO of the company.
- Jassy will take over as the new CEO of the company.
- Jassy joined Amazon in 1997 and has led Amazon’s Web Services cloud team since its inception.
- Bezos said he will stay engaged in important Amazon projects but will also have more time to focus on the Bezos Earth Fund, his Blue Origin spaceship company, The Washington Post and the Amazon Day 1 Fund.
Who is Andy Jassy and the next Amazon CEO
Andy Jassy may not be as widely known in the world outside the tech industry, but he is an integral part of the company. Jassy, who heads one of the most important divisions in Amazon, joined the company in 1997 right after completing his graduation.
Andy Jassy Said “I took my last final exam at Harvard Business School (HBS), the first Friday of May in 1997 and I started Amazon next Monday. No, I didn’t know what my job was going to be, or what my title was going to be. It was super important to the Amazon people that we come that Monday,” Jassy said in a Harvard Business School podcast as per Reuters.
Jassy started Amazon’s AWS, Amazon’s cloud service platform in 2006. The company provides on-demand cloud computing platforms and APIs to individuals, companies, and governments. The service goes up against Microsoft Corp’s Azure and Alphabet Inc’s Google Cloud. The latest earnings report found that AWS raked in $12.7 billion in sales in the fourth quarter.
"Andy brings the first principles thinking that has always been a part of what's made Amazon successful - deeply trying to understand the end customer, creating building blocks by which other people can build and then being good at rapidly iterating," said Matt McIlwain, a managing director with Madrona Venture Group in Seattle, who has closely monitored Amazon's rise told Bloomberg.
On the personal front, Jassy is married to Elana Rochelle Caplan and is a father to two children. He takes a keen interest in philanthropic issues. He is an avid sports aficionado and is interested in music.
"He watched how Jeff approached problems. That's very important because they're a lot of things that are deeply embedded in the culture of Amazon,” he added.
Andy Jassy is the head of Amazon Web Services and will be replacing Jeff Bezos to become the company’s next CEO in Q3
Amazon CEO and founder Jeff Bezos announced that it would step down as the company's CEO. This does not mean that he is parting ways with the company he started some 25 years ago. He will assume the role of Executive Chairman of Amazon. Meanwhile, it has also been announced that the head of Amazon’s cloud services, Andy Jassy will take over as the company's new CEO.
Bezos, founded Amazon in 1994 and has since morphed the one-time online bookshop into a mega retailer with international reach in a very slew of different categories from gadgets to groceries to streaming. Amazon surpassed a $1 trillion market cap under Bezos’ leadership in Jan of last year, it’s currently price over $1.6 trillion.
The company had kept its succession plans quiet, though onlookers speculated that either Jassy or Jeff Wilke, CEO of Amazon’s worldwide consumer business, would be Bezos’ ultimate successor. In August Amazon declared Wilke can retire in 2021. Jassy, can become CEO in the third quarter.
Jassy joined Amazon in 1997 and has led Amazon’s web Services cloud team since its beginning. AWS continues to drive a lot of of Amazon’s profit.
Announcing Jassy as his successor, Jeff Bezos in his letter to his employees had said, “I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO. In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives. Andy is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader, and he has my full confidence.”
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