Andy Jassy

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Andy Jassy
Andy Jassy in 2010 (cropped).jpg
Jassy in 2010
Born (1968-01-13) January 13, 1968 (age 53)
EducationHarvard University (AB, MBA)
Known forFounding Amazon Music and AWS[1][2]
Net worthUS$440 million (February 2021)[3]
TitleCEO, Amazon Web Services
Spouse(s)Elana Caplan[4]
Children2[5]
WebsiteAndy Jassy on Twitter

Andrew R. Jassy (born January 13, 1968)[6][7] is an American businessman and the CEO of Amazon Web Services. He is also one of the minority owners of the Seattle Kraken of the National Hockey League. Jassy has led AWS since its inception in 2003.[8] He will replace Jeff Bezos as CEO of Amazon in the third quarter of 2021; Bezos will become executive chairman.[9]

Early life and education[edit]

Jassy is the son of Margery and Everett L. Jassy of Scarsdale, New York.[4] 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.[4] Jassy grew up in Scarsdale, and attended Scarsdale High School.[4][12]

Jassy graduated with honors from Harvard College, where he was advertising manager of The Harvard Crimson, before earning an MBA from Harvard Business School.[13][14]

Career[edit]

Jassy worked for 5 years after graduation before doing his MBA. 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][16]

He joined Amazon in 1997, with several other Harvard MBA colleagues.[16] His early roles included marketing manager.[13]

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.[17] Jassy headed AWS and its team of 57 people.[1]

In March 2016, Jassy was named Person of the Year by The Financial Times,[18] and a month later in April, Jassy was promoted from senior vice president to CEO of AWS.[19][14] That year Jassy earned $36.6 million.[20]

In April 2017, Jassy criticized rival Oracle's database business, claiming that "it has been a lonely place for customers" due to their high prices and vendor lock-in.[21]

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[22]) 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[22]), which vest 37.5% in 2021, 12.5% in 2022, 37.5% in 2023, and 12.5% in 2024.[23]

On February 2, 2021, it was announced that Jassy will succeed Jeff Bezos as the CEO of Amazon sometime in the third quarter of 2021, with Bezos transitioning to executive chairman.[24]

Outside of his roles at Amazon, Jassy is also the chairman of Rainier Prep, a charter school in Seattle.[25]

Personal life[edit]

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.[4] Their wedding was officiated by New York Rabbi James Brandt, a cousin of Elana.[26] Both their fathers were senior partners in law firm Dewey Ballantine.[4] They have two children.[5]

They live in the Capitol Hill neighborhood of Seattle, in a 10,000-square-foot house bought in 2009 for $3.1 million.[2][27] In October 2020, it was reported that Jassy had bought a $6.7 million 5,500-square-foot house in Santa Monica, California.[28][29][27]

References[edit]

  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. ^ 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.
  4. ^ 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.
  5. ^ 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.
  6. ^ "Andrew R Jassy from Seattle, WA". Nuwber.
  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 Hook, Leslie (March 17, 2016). "Person of the Year: Amazon Web Services' Andy Jassy". Financial Times. Retrieved October 12, 2017.
  14. ^ a b "Andrew Jassy, Amazon.Com Inc: Profile & Biography". Bloomberg. Retrieved October 12, 2017.
  15. ^ Hook, Leslie (March 17, 2016). "Person of the Year: Amazon Web Services' Andy Jassy". www.ft.com. Retrieved February 2, 2021.
  16. ^ 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.
  17. ^ 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.
  18. ^ Hook, Leslie (March 17, 2016). "Person of the Year: Amazon Web Services' Andy Jassy". ft.com. Archived from the original on February 5, 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. ^ Levy, Ari (April 19, 2017). "Amazon cloud chief jabs Oracle over vendor lock-in: 'Customers are sick of it'". CNBC. Retrieved October 12, 2017.
  22. ^ a b "Amazon.com, Inc. (AMZN)". Retrieved July 26, 2020.
  23. ^ "Notice of 2020 Annual Meeting of Shareholders & Proxy Statement" (PDF). May 22, 2020. Retrieved July 26, 2020.
  24. ^ Haselton, Todd (February 2, 2021). "Jeff Bezos to step down as Amazon CEO, Andy Jassy to take over in Q3". CNBC.
  25. ^ "Board". Rainier Prep. Retrieved October 12, 2017.
  26. ^ "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.
  27. ^ 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.
  28. ^ 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.
  29. ^ "Amazon's Andy Jassy Buys Santa Monica Home". The Real Deal Los Angeles. October 14, 2020. Archived from the original on February 4, 2021.