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5 Things To Know About Andy Jassy’s Transition To Amazon CEO

‘Like the rest of Amazon, AWS is in a very good spot,’ Jassy wrote in a memo to employees. Here’s everything you need to know about Amazon’s succession planning and its S-Team bench, what Bezos had to say about Jassy, and how partners and analysts reacted to the announcement.

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Amazon Web Services CEO Andy Jassy told AWS employees there’s “still plenty of time” to determine who will lead the cloud computing division when he takes over as CEO of parent company Amazon.com this summer.

A 24-year Amazon veteran, Jassy launched AWS in 2006 and served as its senior vice president before becoming AWS CEO in April 2016. Yesterday, he was was named as the successor to Amazon founder and CEO Jeff Bezos, who will be stepping down and taking a new role as executive chair of the company’s board.

Amazon made the announcement as part of its fourth-quarter earnings release for 2020 yesterday. The transition is due to take place in the third quarter, which starts July 1. Jassy’s replacement has yet to be named.

In a memo to employees on Tuesday following the announcement, the 53-year-old Jassy said he was excited about what the future holds for AWS, which he has built into a cloud computing powerhouse and industry leader with a $51 billion annualized revenue run rate.

“Like the rest of Amazon, AWS is in a very good spot,” Jassy wrote in the memo, first obtained by The New York Times’ Kara Swisher. “At a $51B revenue run rate, growing 28 percent (year over year), and with the meat of enterprise and public sector adoption starting to happen now, we have a chance to build a very unusual, long-term business. And more importantly, we continue to help millions of new and existing customers not only transform their own companies, but also entire industries. One of the amazing things about AWS and Amazon is that we‘re still such a small overall share of the market segments in which we address. It’s still very early days.”

Nothing will change in the short term at AWS, according to Jassy.

“You’ll be stuck with me until Q3, and even after that, I will always be passionate and connected to AWS,” he said. “We have plenty of time to determine in the coming weeks who will lead the AWS business when I assume the new role. We will share those details in the future. We have unusual leadership depth in AWS that, along with all of you, are the heart of the business -- and that doesn’t change. In the meantime, stay giddied up -- we have so many customers needing our help to transform and accomplish what they’re trying to do. We won’t be bored any time soon :-).”

Jassy said he also was excited for Bezos and looks forward to watching him in his “next chapter.”

“Seems a pretty good bet that it’ll be something special,” Jassy said.

Jassy, who started at Amazon in 1997 after graduating from Harvard Business School, served in a shadow role to Bezos in his early years at the company, in a position known as Bezos’ technical assistant or chief of staff.

“It’s hard to overstate how much I’ve learned from Jeff over the past 24 years — from how much I obsess over customers, to the importance of inventing and looking around corners, to the criticality of hiring and developing great people, to the value of high standards and consistently speedy, outstanding delivery,” Jassy said. “I am grateful for the opportunity to lead Amazon, and excited about what the future holds for the company.”

Click through to read about Amazon’s succession planning and its S-Team bench, what Bezos had to say about Jassy, and how partners and analysts reacted to the announcement.

 
 
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