Amazon, how much will Jassy earn (after Bezos)
Andy Jassy officially assumes the role of CEO of Amazon from Jeff Bezos, the founder of the e-commerce giant leaves after 27 years. Here's what it will do (maybe)
It is the dawn of a new era for Amazon: Andrew R. Jassy will take over as CEO of the e-commerce giant from today.
The founder (and former CEO) Jeff Bezos himself announces the new adventure. After 27 years from the foundation and uninterrupted leadership of the group, Bezos leaves the helm but will not completely abandon the leadership of Amazon, remaining as Executive President.
In fact, Jassy's appointment was announced earlier this year and coincides with the 27th anniversary of the founding of Amazon.
THE HELM OF AMAZON PASSES TO JASSY
Today Jeff Bezos officially leaves the leadership of Amazon, as announced during the annual shareholders' meeting on May 26th.
The helm passes to cloud computing chief Andy Jassy.
The founder of Amazon assured investors that Jassy, who has "all his trust", is well known in the company, and will become an exceptional leader: "I guarantee it, he will not let the universe make us normal".
WHO IS THE NEW CEO
Andy Jassy joined the company shortly after graduating from Harvard Business School in 1997 and has led Amazon Web Services (AWS) since the team was founded in 2003.
He was officially named the division's CEO in 2016. By the end of 2020, AWS controlled about a third of the total cloud computing market, according to Synergy Research, which is about as much as its closest rivals Microsoft and Google combined.
Jassy's journey is similar to that of current Microsoft CEO Satya Nadella, who previously ran the company's Azure cloud business.
AWS SUCCESS
As The Verge points out, Amazon serves as the backbone for much of the modern web thanks to AWS.
For the full year 2020, AWS posted net revenue of $ 45.3 billion, up 30% on an already massive revenue base. It also provided an operating margin of 30%, compared to the operating margin of 5.9% for the company as a whole.
HOW MUCH JASSY EARNED
In 2020, Jassy's total compensation from Amazon was $ 35.8 million, most of which came from a $ 35.6 million stock award, Variety reports.
Not only that, the new CEO has received stock awards worth more than $ 200 million based on the tech giant's four-digit share price at the time. Jassy has been awarded 61,000 Amazon common stock as of July 5, when he will take over the helm from founder Jeff Bezos. Stock awards will accrue over the next 10 years, the company revealed Friday in a filing with the Securities and Exchange Commission. Amazon shares closed on Friday at $ 3,510.98.
GRAINS REGULATIONS
But Jassy will also inherit some quarrels. In recent times, Amazon's size and practices have attracted the attention of antitrust regulators around the world. Bezos is one of Big Tech's CEOs who testified before Congress as part of its antitrust investigation last year. Without forgetting that the European Antitrust has launched a second investigation into the e-commerce giant.
WHAT BEZOS WILL DO
Bezos will therefore maintain a key role in the company by remaining executive chairman of the board of directors. Its release falls not by chance on the 27th anniversary of Amazon because, as Bezos said, the timing is "sentimental". The richest man in the world according to Forbes will focus on other projects such as space travel with his aerospace company Blue Origin first, and ownership of the Washington Post and other initiatives such as the Day One Fund and Bezos Earth Fund foundations.
GOAL SPACE
In fact, on 20 July Bezos will board the suborbital launcher New Shepard, to participate in the first Blue Origin tourist flight, together with his brother, a dream he had carried with him "since he was five years old". And he will do it with his brother: “the greatest adventure, with my best friend”. New Shepard is designed to carry six people autonomously over 100km into suborbital space, high enough to experience weightlessness for a few minutes and see the curvature of the planet before returning. The six observation windows are the largest ever used in space. Space is a priority for Bezos and a potential source of sizable revenue, although Blue Origin is currently lagging behind its main competitor, SpaceX, in the field of satellite building and space missions.
However, Amazon's founding billionaire will have to accept that rival Branson will fly into orbit 9 days earlier in his Virgin Galactic spacecraft .
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/amazon-quanto-guadagnera-jassy-dopo-bezos/ on Mon, 05 Jul 2021 13:52:01 +0000.