Andy Jassy is set to take over the reign of Amazon after Jeff Bezos announced on Tuesday that he would retire as CEO of his e-commerce empire.
Jassy, 53, started the business in 1997 as a marketing manager – just three years after it was founded by Bezos – and in recent decades helped make Amazon a profitable technology firm.
There have long been rumors that Jassy is a potential successor to Bezos.
His ascension as CEO will only take place in the third quarter of 2021, when Bezos (57) will then become CEO of Amazon’s board.
Here’s what you need to know further about the incoming Amazon headline.
What was Andy Jassy’s role at Amazon before his promotion?
Jassy is currently the leader of the company’s cloud computing offshoot, Amazon Web Services, which offers a range of online services to businesses.
Jassy, a graduate of Harvard Business School, founded AWS in 2003 and became its CEO in 2016.
Led by Jassy, the division has grown into a cloud platform used by millions, signed by major customers including Verizon, McDonald’s and Honeywell.
The service competes with Microsoft Corp’s Azure and Alphabet Inc’s Google Cloud.
It brought in $ 12.7 billion in the most recent quarter, up 28 percent from a year ago.
Amazon has not yet announced who will replace Jassy at AWS.
What is Andy Jassy’s salary and net worth?
According to Amazon’s most recent power of attorney statements, Jassy was paid $ 348,809 in 2019.
According to CNBC, he owns about 85,000 shares in the company, which as of Tuesday valued at $ 287.3 million.
Its net worth was estimated at $ 394 million in November 2020.
What’s the relationship between Andy Jassy and Jeff Bezos?
In Amazon’s early years, Jassy reportedly took on the role of ‘Jeff Bezos’s Shadow’.
This position has kept him on the side of Bezos on a daily basis while the two explore the company and move towards the development of AWS, according to a Forbes profile of Jassy in 2015.
In his statement Tuesday, Bezos said Jassy “is very well known in the company and that he has been with Amazon for almost as long as I have.”
“He will be an excellent leader, and he has my full confidence,” Bezos said.
What’s the background of Andy Jassy?
Jassy grew up in Scarsdale and attended Scarsdale High School.
His father, Everett L. Jassy, was a senior partner at Dewey Ballantine, a large corporate law firm in New York City.
Jassy attended Harvard College and then earned his MBA from Ivy’s Business School.
He has been married to Elana Rochelle Caplan since 1997. The couple has two children and lives in Seattle.
A self-proclaimed music and sports lover, Jassy, is also a minority owner of the NHL Seattle Kraken.
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