Amazon announced at a shareholder meeting on Wednesday, that Andy Jassy will become the CEO of the company on July 5th. According to reports, the date was chosen because it corresponds with Amazon’s 27th incorporation anniversary.
Andy Jassy who is the current CEO of Amazon Web Services, will replace Jeff Bezos and take over as the CEO of the entire company. Jassy is one of the most important executives in Amazon’s history. As one of Amazon’s pioneer figures, Jassy is known for leading the hugely successful Amazon Web Services; the cloud computing technology that underpins Netflix, Spotify, Fortnite, and other major services, to astronomical heights. He joined the company in the late ’90s and was tasked with exploring what would become AWS around 2003. Since then, it has become a massive revenue-driver for the company, earning $13.5 billion last quarter alone.
Outgoing CEO Jeff Bezos will become Executive Chairman of Amazon’s board.
“As Exec Chair I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions. I’ve never had more energy, and this isn’t about retiring. I’m super passionate about the impact I think these organizations can have.”, Jeff Bezos said.
Amazon’s chief financial officer, Brian Olsavsky, told investors that “Jeff will be the executive chair on the board. He will be involved in many large important decisions: acquisitions, things like strategy and going into grocery and other things. Jeff has always been involved in that and that is where he will keep his time focused on his new role.”
It seems likely that Jeff Bezos style of running Amazon will be Jassy’s cynosure to run the company as the new CEO. Jassy’s role as CEO of AWS has significantly contributed to the incredible growth that AWS has achieved today. This points to the fact that he is proficient for the role.
Many people, including Amazon employees and customers, anticipate the transition and look forward to what Jassy will do when he takes up the role as Amazon’s CEO.