New Amazon CEO 2021

 

Amazon founder Jeff Bezos has announced that Andrew R. Jassy, currently the CEO of Amazon Web Services, will take over the CEO role on July 5, 2021. Bezos will become executive chairman

Jassy has led AWS since its inception in 2003. He is also one of the minority owners of the Seattle Kraken of the National Hockey League.

“We chose that date because it’s sentimental for me,” Bezos said during an Amazon shareholder meeting on Wednesday. He explained that it was exactly 27 years ago on that date in 1994 that Amazon was incorporated.

Amazon.com Inc. had announced that Bezos was stepping down as CEO in February, but didn’t provide a specific date.Bezos will focus on new products and initiatives, including plans rocket ship company, Blue Origin, and his newspaper, The Washington Post.

Career

Jassy worked for 5 years after graduation before entering his MBA program. He worked as a project manager for a collectibles company, MBI, and then he and an MBI colleague started a company and closed it down.

He joined Amazon in 1997, with several other Harvard MBA colleagues.His early roles included marketing manager.

In 2003, he and Jeff Bezos came up with the idea to create the cloud computing platform that would become known as Amazon Web Services (AWS), which launched in 2006.Jassy headed AWS and its team of 57 people.

In March 2016, Jassy was named a Person of the Year by the Financial Times.A month later, Jassy was promoted from senior vice president to CEO of AWS.That year Jassy earned $36.6 million.

In 2020, for his work as CEO of AWS, Jassy earned a base compensation of $175,000, plus a restricted stock unit award of 4,023 shares (a value of $12,104,844.93 as of July 26, 2020 of Amazon with vesting beginning in 2023. He also received a restricted stock unit award in April 2018 for 10,000 shares (a value of $30,089,100 as of July 26, 2020), which vest 37.5% in 2021, 12.5% in 2022, 37.5% in 2023, and 12.5% in 2024.

In February 2021, it was announced that Jassy will succeed Bezos as the CEO of Amazon sometime in the third quarter of 2021, with Bezos transitioning to executive chairman. This took effect on July 5, 2021.

Outside of his roles at Amazon, Jassy is also the chairman of Rainier Prep, a charter school in Seattle.

Personal

In 1997, Jassy married Elana Rochelle Caplan, a fashion designer for Eddie Bauer and graduate of the Philadelphia College of Textiles and Science, at the Loews Santa Monica Beach Hotel. Their wedding was officiated by New York Rabbi James Brandt, a cousin of Elana. Both their fathers were senior partners in law firm Dewey Ballantine.[4] They have two children.

They live in the Capitol Hill neighborhood of Seattle, in a 10,000-square-foot house bought in 2009 for $3.1 million. In October 2020, it was reported that Jassy had bought a $6.7 million 5,500-square-foot house in Santa Monica, California.