Andy Jassy
Andy Jassy in 2010 (cropped).jpg
Jassy in 2010
Born (1968-01-13) January 13, 1968 (age 54)
EducationHarvard University (AB, MBA)
Known forFounding Amazon Web Services (AWS) and Amazon Music[1][2]
TitlePresident and CEO of Amazon
TermJuly 5, 2021–
PredecessorJeff Bezos
Board member ofAmazon
Spouse(s)Elana Caplan[3]
Children2[4]
WebsiteAndy Jassy on Twitter

Andrew R. Jassy (born January 13, 1968)[6][7] is an American business executive who has been the President and chief executive officer of Amazon since 2021. He previously served as Senior Vice President and chief executive officer of Amazon Web Services from 2003 to 2021,[8] and was selected by Jeff Bezos during the 2020 fourth quarterly results[9] when Bezos became executive chairman.

Early life and education

Jassy is the son of Margery and Everett L. Jassy of Scarsdale, New York.[3] He is Jewish[10][11] with Hungarian ancestry.[10] His father was a senior partner in the corporate law firm Dewey Ballantine in New York, and chairman of the firm's management committee.[3] Jassy grew up in Scarsdale, and attended Scarsdale High School,[3][12] where he played varsity soccer and tennis.[13]

Jassy graduated with honors, cum laude, from Harvard College in government, where he was advertising manager of The Harvard Crimson, before earning an MBA from Harvard Business School. In 1989, he wrote in The Crimson that the newspaper should continue to publish advertisements from Eastern Airlines, despite an ongoing labor dispute there.[14][15][16]

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.[15][17]

He joined Amazon as a marketing manager in 1997,[13] with several other Harvard MBA colleagues.[17][15]

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, which launched in 2006.[18] Jassy headed it and its team of 57 people.[1]

Jassy in 2016.
Jassy in 2016.

In March 2016, Jassy was named a Person of the Year by the Financial Times.[15] A month later, Jassy was promoted from senior vice president to chief executive officer of Amazon Web Services.[19][16] That year Jassy earned $36.6 million.[20]

For his work as chief executive officer of Amazon Web Services, Jassy earned a base compensation of $175,000 in 2020, plus a restricted stock unit award of 4,023 shares (a value of $12,104,844.93 as of July 26, 2020[21]) 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),[21] which vest 37.5% in 2021, 12.5% in 2022, 37.5% in 2023, and 12.5% in 2024.[22]

In January 2021, Bezos designated Jassy his official successor as CEO,[23] and the announcement was made on February 2 during Q4's earnings release. The transition was scheduled for Q3 2021,[24] and on May 26[25] confirmed July 5 as the handover date. Jassy assumed the office on the same day as Bezos had founded the company in 1994. [25] During his first year running Amazon, he received a pay package of $212.7 million which was a substantial increase from his compensation in 2020. [26]

Personal life

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.[3] Their wedding was officiated by New York Rabbi James Brandt, a cousin of Elana.[27] Both their fathers were senior partners in law firm Dewey Ballantine.[3] They have two children.[4]

They live in the Capitol Hill neighborhood of Seattle, in a 10,000-square-foot house bought in 2009 for $3.1 million.[2][28] In October 2020, it was reported that Jassy had bought a $6.7 million 5,500-square-foot house in Santa Monica, California.[29][30][28]

He is chairman of Rainier Prep, a charter school in Seattle.[31] Jassy is also a noted sports and music fan, and a minority owner of Seattle Kraken in the National Hockey League.

References

  1. ^ a b McLaughlin, Kevin (August 4, 2015). "Andy Jassy: Amazon's $6 Billion Man". CRN. Archived from the original on February 3, 2021. Retrieved October 12, 2017.
  2. ^ a b "Andy Jassy: Amazon Web Services (AWS) CEO". montgomerysummit. Archived from the original on February 23, 2021. Retrieved February 2, 2021.
  3. ^ a b c d e f "Elana Caplan And Andrew Jassy". The New York Times. August 24, 1997. ISSN 0362-4331. Archived from the original on February 3, 2021. Retrieved February 2, 2021.
  4. ^ a b Rao, Leena (June 28, 2015). "How Andy Jassy helped Amazon own the cloud". Fortune.com. Archived from the original on February 3, 2021. Retrieved February 23, 2021.
  5. ^ Debter, Lauren (February 3, 2021). "Andy Jassy Owns More Amazon Stock Than Any Employee Except Jeff Bezos. And He's Still Not A Billionaire". Forbes. Archived from the original on February 4, 2021. Retrieved February 4, 2021.
  6. ^ "Andrew R Jassy from Seattle, WA". Nuwber. Archived from the original on February 2, 2021.
  7. ^ "Andrew R. Jassy, MBA". 4-traders.
  8. ^ Eugene, Kim; Stewart, Ashley (January 31, 2021). "Andy Jassy will be the next CEO of Amazon. Insiders dish on what it's like to work for Jeff Bezos' successor who built AWS into a $40 billion business". Business Insider. Archived from the original on February 2, 2021. Retrieved February 3, 2021.
  9. ^ "Amazon.com Announces Financial Results and CEO Transition". ir.aboutamazon.com. Archived from the original on February 2, 2021. Retrieved February 2, 2021.
  10. ^ a b "Amazon's Next CEO Andy Jassy Is Jewish". February 7, 2021. Archived from the original on February 15, 2021. Retrieved February 14, 2021.
  11. ^ "Amazon's next CEO Andy Jassy is Jewish". Jewish Telegraphic Agency. Retrieved February 5, 2021.
  12. ^ Fishman, Adrienne (September 11, 2014). "Amazon's Andy Jassy '86 to be interviewed by Dr. Hagerman on Tuesday at 8pm". scarsdale10583.com. Retrieved October 12, 2017.
  13. ^ a b Tilley, Aaron (July 2, 2021). "Amazon Primed Andy Jassy to Be CEO. Can He Keep What Jeff Bezos Built?". Wall Street Journal. Retrieved July 12, 2021.
  14. ^ "No Eds in Ads | Opinion | The Harvard Crimson". www.thecrimson.com. Retrieved April 14, 2022.
  15. ^ a b c d Hook, Leslie (March 17, 2016). "Person of the Year: Amazon Web Services' Andy Jassy". Financial Times. Archived from the original on February 5, 2021. Retrieved October 12, 2017.
  16. ^ a b "Andrew Jassy, Amazon.Com Inc: Profile & Biography". Bloomberg. Retrieved October 12, 2017.
  17. ^ a b "Podcast - Forum for Growth & Innovation - Harvard Business School". www.hbs.edu. Archived from the original on February 4, 2021. Retrieved February 3, 2021.
  18. ^ Tilley, Aaron (February 2, 2021). "Who Is Andy Jassy? Jeff Bezos Acolyte Moves From Cloud to Amazon CEO". Wall Street Journal. Retrieved February 3, 2021.
  19. ^ Novet, Jordan (April 7, 2016). "Andy Jassy is finally named CEO of Amazon Web Services". VentureBeat. Archived from the original on February 3, 2021. Retrieved October 12, 2017.
  20. ^ Balakrishnan, Anita (April 12, 2017). "The most highly paid Amazon executive isn't the CEO — it's the head of cloud". CNBC. Retrieved October 12, 2017.
  21. ^ a b "Amazon.com, Inc. (AMZN)". Retrieved July 26, 2020.
  22. ^ "Notice of 2020 Annual Meeting of Shareholders & Proxy Statement" (PDF). May 22, 2020. Retrieved July 26, 2020.
  23. ^ Hartmans, Avery (November 23, 2021). "Jeff Bezos surprised Andy Jassy by picking him as Amazon CEO: VF". Business Insider. Retrieved June 3, 2022.
  24. ^ Haselton, Todd (February 2, 2021). "Jeff Bezos to step down as Amazon CEO, Andy Jassy to take over in Q3". CNBC.
  25. ^ a b Peters, Jay (May 26, 2021). "Andy Jassy will become Amazon's CEO on July 5th". The Verge. Retrieved May 27, 2021.
  26. ^ Thorbecke, Catherine (April 1, 2022). "Amazon CEO Andy Jassy's total compensation package topped $212 million". CNN International. Retrieved April 4, 2022.((cite web)): CS1 maint: url-status (link)
  27. ^ "Meet Elana Rochelle Caplan, Amazon's next CEO Andy Jassy's fashion designer wife who loves traveling". meaww.com. Archived from the original on February 5, 2021.
  28. ^ a b McClain, James (October 14, 2020). "Amazon Web Services CEO Andy Jassy Buys Prime Santa Monica Home". Archived from the original on February 23, 2021.
  29. ^ Neilson, Susie (February 2, 2021). "Who is Andy Jassy, the Amazon exec who will replace Jeff Bezos as CEO?". San Francisco Chronicle. Archived from the original on February 23, 2021.
  30. ^ "Amazon's Andy Jassy Buys Santa Monica Home". The Real Deal Los Angeles. October 14, 2020. Archived from the original on February 4, 2021.
  31. ^ "Board". Rainier Prep. Retrieved October 12, 2017.