Who’s Andy Jassy, the brand new Amazon CEO taking up from Jeff Bezos?

Although not as public a determine as Bezos, Jassy is an completed govt in his personal proper — having grown Amazon’s cloud phase, Amazon Internet Companies, from its inception right into a $45 billion enterprise and the corporate’s largest moneymaker. Now, he’ll take over main the broader firm because it builds on a 12 months of huge development attributable to the pandemic.
“Andy is well-known inside the corporate and has been at Amazon virtually so long as I’ve,” Bezos wrote in a letter to staff Tuesday. “He might be an excellent chief, and he has my full confidence.”

Listed below are three key issues to know in regards to the new chief of the e-commerce large.

Jassy began at Amazon (AMZN) in 1997, nearly three years after Bezos launched the corporate in his storage and three weeks earlier than the corporate went public at a valuation of $300 million. It was his first job after graduating from Harvard Enterprise Faculty.
“I took my final closing examination at (Harvard Enterprise Faculty) the primary Friday in Might in 1997, and I began at Amazon the subsequent Monday,” Jassy stated on “The Disruptive Voice” podcast final 12 months. “I did not know what my job was going to be and what group I used to be going to work in and what my title was going to be.”

He first labored in a advertising position, after which was positioned on a “SWAT staff” undertaking exploring different potential product classes for Amazon past books. Jassy pitched coming into the music enterprise as a part of the undertaking.

Jassy additionally frolicked within the early 2000s ready referred to on the time as Bezos’ “shadow,” a job much like a company chief of employees, which was designed to coach promising younger execs, in keeping with Ann Hiatt, a former govt enterprise associate for Bezos throughout Amazon’s early days (the place she sat at considered one of Bezos’ now-legendary “door desks.”) Now a tech-leadership advisor, Hiatt stated she labored intently with Jassy throughout his time as Bezos’ “shadow.”

Jeff Bezos is stepping down as Amazon CEO

“Should you’d requested me yesterday what I believed the timeline can be of Jeff stepping down as CEO, I might not have guessed now. However if you happen to’d stated, ‘Okay, he is stepping down, who will he select?’ the primary, prompt title out of my mouth can be Andy Jassy,” Hiatt stated.

“I watched him blossom into this stunning complimentary govt to Jeff, the place he realized to anticipate the questions Jeff would ask, the issues he would hate, the issues he would love, his management fashion,” Hiatt stated. “Whereas Andy, after all, has his personal unbelievable model of govt, he was educated with these instincts, to prioritize the issues that Jeff would and make selections the identical method Jeff would when he is not within the room. Clearly, he is taken that on to nice heights in his position as CEO of AWS.”

Jassy was there when Amazon determined to launch AWS and function it as a separate firm that served Amazon.com the identical method it could every other buyer.

“From the very begin of AWS, we decided that if we wished to have the ability to serve a whole lot of Amazon’s client rivals … that we needed to make AWS its personal separable enterprise with a distinct management staff and the place Amazon’s client companies have been an vital buyer however simply considered one of many vital exterior prospects,” Jassy instructed CNN of the choice in an interview for a 2019 CNN documentary on Amazon’s historical past. “We deal with Amazon’s client enterprise as an exterior buyer.”

On the time, many have been skeptical of the choice, provided that the computing enterprise was a far cry from Amazon’s core on-line retail actions. However Jassy has since overseen the expansion of AWS into the spine of a lot of the web — one thing he managed regardless of not having a lot of a tech background.

“He brings fairly a level of humility; individuals did not fairly understand who he was till lately,” stated Jeffrey Sonnenfeld, a Yale Faculty of Administration professor. “He is undoubtedly very humble, he is not a self promoter, which is form of uncommon to be at this stage within the tech area.”

How a lot does he earn?

Jassy’s base wage, like that of a number of different prime execs, was $175,000 in 2019, in keeping with Amazon’s most up-to-date Proxy assertion printed in 2020.
Jeff Bezos has been halfway out the door at Amazon for a while

In 2019, his whole compensation was $348,809. However a 12 months earlier, his pay totaled greater than $19.7 million, because of an almost $19.5 million inventory award that vested that 12 months. Against this, Jeff Bezos’ base wage was $81,840, and whole compensation in 2019 was almost $1.7 million, although Bezos owns a bigger share of the corporate’s inventory (almost 15% of the overall, as of the 2020 Proxy assertion).

It’s unclear whether or not Jassy’s compensation will change after turning into CEO.

The succession plan

CNN’s Poppy Harlow requested him about his CEO ambitions in an interview for a 2019 documentary about Amazon’s historical past.

On the time, Jassy stated he did not anticipate Bezos to depart his place within the close to future.

“I really feel very lucky that Jeff just isn’t going anyplace anytime quickly, and none of us need him to. He is simply such an uncommon chief and a lot a part of the tradition that I believe he’ll be right here for a really very long time.”

Whereas he was coy about his plans — telling Harlow, “It is type of onerous to think about life with out Jeff operating the corporate” — analysts say Bezos has been planning for the transition for years.

Yale’s Sonnenfeld, who authored a e-book on CEO transitions known as “The Hero’s Farewell,” recalled a dialog with Bezos at a tech convention about seven years in the past throughout which the Amazon chief stated he’d studied the Invoice Gates-Steve Ballmer transition course of.

“This has been his plan,” Sonnenfeld stated of Bezos. “He wished to cross this factor on as a wholesome enterprise, and that is the best time to do it.”

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