Andy Jassy Explained

Andy Jassy
Birth Date:13 January 1968
Known For:Founding Amazon Web Services (AWS) and Amazon Music[1]
Education:Harvard University (BA, MBA)
President and CEO of Amazon
Term:July 2021–present
Predecessor:Jeff Bezos
Boards:Amazon
Children:2
Signature:Andy Jassy Signature.jpg

Andrew R. Jassy (born January 13, 1968)[2] is an American business executive who is the president and chief executive officer (CEO) of Amazon. Before being appointed by Jeff Bezos and the Amazon board during the fourth quarter of 2020,[3] [4] Jassy had been the SVP and CEO of Amazon Web Services from 2003 to 2021.[5]

Early life and education

Jassy is the son of Margery and Everett L. Jassy of Scarsdale, New York.[6] Of Jewish [7] Hungarian ancestry,[8] his father was a senior partner in the corporate law firm Dewey Ballantine in New York City, and chairman of the firm's management committee. Jassy grew up in Scarsdale, and attended Scarsdale High School,[9] where he played varsity soccer and tennis.[10]

Jassy graduated 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 Air Lines, despite an ongoing labor dispute there.[11] [12] [13]

Career

Jassy worked for five years after graduation before entering his MBA program as a project manager for a collectibles company, MBI, and then he and an MBI colleague started a company and closed it down.[14]

Jassy joined Amazon as a marketing manager in 1997[10] with several other Harvard MBA colleagues.[14] In 2003, he and Jeff Bezos came up with the idea to create the cloud computing platform that became known as Amazon Web Services, which launched in 2006.[15] Jassy headed it and its team of 57 people.[1]

In 2016, Jassy was named Person of the Year by the Financial Times. A month later, Jassy was promoted from senior vice president to chief executive officer of Amazon Web Services (AWS).[16] That year Jassy earned $36.6 million.[17]

For his work as CEO of AWS, 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[18]) 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),[18] which vest 37.5% in 2021, 12.5% in 2022, 37.5% in 2023, and 12.5% in 2024.[19] He was succeeded as CEO of AWS by Adam Selipsky.[20]

In January 2021, Bezos designated Jassy his official successor as CEO;[21] with the transition occurring on July 5, 2021.[22] As CEO of Amazon, Jassy received a ten year pay package totaling $212.7 million. The majority of the compensation package is in stock and vests over 10 years.[23]

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 a Loews Hotel in Santa Monica, California. Their wedding was officiated by New York reform Rabbi James Brandt, a cousin of Elana.[24] Both their fathers were senior partners in law firm Dewey Ballantine. Jassy and Caplan have two children.[25]

They live in the Capitol Hill neighborhood of Seattle in a 10,000-square-foot house bought in 2009 for $3.1 million.[26] [27] In October 2020, it was reported that Jassy had bought a $6.7 million 5,500-square-foot house in Santa Monica.[28] [29] [27]

He is chairman of Rainier Prep, a charter school in Seattle.[30]

Notes and References

  1. News: Andy Jassy: Amazon's $6 Billion Man . McLaughlin . Kevin . 4 August 2015 . . 12 October 2017 . https://archive.today/20210203122831/https://www.crn.com/news/cloud/300077657/andy-jassy-amazons-6-billion-man.htm . February 3, 2021 . live .
  2. News: Long . Katherine Anne . February 6, 2021 . As incoming Amazon CEO Andy Jassy steps into the limelight, a portrait of a leader much like Jeff Bezos emerges . The Seattle Times . https://web.archive.org/web/20240324013006/https://www.seattletimes.com/business/amazon/as-incoming-amazon-ceo-andy-jassy-steps-into-the-limelight-a-portrait-of-a-leader-much-like-jeff-bezos-emerges/ . March 24, 2024 . live.
  3. News: Weise . Karen . Jeff Bezos to Step Down as Amazon C.E.O. . The New York Times . 2 February 2021.
  4. News: Haselton . Todd . Jeff Bezos to step down as Amazon CEO, Andy Jassy to take over in Q3 . CNBC . 2 February 2021 . en.
  5. News: 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 . https://archive.today/20210202220756/https://www.businessinsider.com/andy-jassy-amazon-web-services-ceo-2021-1 . February 2, 2021 . 31 Jan 2021 . . Eugene . Kim . Ashley . Stewart . 3 Feb 2021 . live .
  6. News: Elana Caplan And Andrew Jassy . en-US . The New York Times . February 2, 2021. 0362-4331 . August 24, 1997 . https://archive.today/20210203080100/https://www.nytimes.com/1997/08/24/style/elana-caplan-and-andrew-jassy.html . 3 February 2021.
  7. Web site: Amazon's next CEO Andy Jassy is Jewish. 2021-02-05. Jewish Telegraphic Agency. February 4, 2021 . en-US.
  8. News: Amazon's Next CEO Andy Jassy Is Jewish . https://archive.today/20210215104523/https://www.theyeshivaworld.com/news/headlines-breaking-stories/1945868/amazons-next-ceo-andy-jassy-is-jewish.html . 15 February 2021 . February 7, 2021 . February 14, 2021 . The Yeshiva World News.
  9. Web site: Amazon's Andy Jassy '86 to be interviewed by Dr. Hagerman on Tuesday at 8pm. Adrienne. Fishman. September 11, 2014. scarsdale10583.com. October 12, 2017.
  10. News: Tilley . Aaron . Amazon Primed Andy Jassy to Be CEO. Can He Keep What Jeff Bezos Built? . 12 July 2021 . Wall Street Journal . 2 July 2021.
  11. Web site: No Eds in Ads Opinion The Harvard Crimson . 2022-04-14 . www.thecrimson.com.
  12. Web site: Person of the Year: Amazon Web Services' Andy Jassy. Leslie. Hook. March 17, 2016. Financial Times. October 12, 2017. https://archive.today/20210205200823/https://www.ft.com/content/a515eb7a-d0ef-11e5-831d-09f7778e7377 . 5 February 2021 . live.
  13. Web site: Andrew Jassy, Amazon.Com Inc: Profile & Biography. Bloomberg. October 12, 2017.
  14. Web site: Podcast - Forum for Growth & Innovation - Harvard Business School. www.hbs.edu. https://archive.today/20210204142729/https://www.hbs.edu/forum-for-growth-and-innovation/podcasts/disruptive-voice/Pages/podcast-details.aspx?episode=15834284. February 4, 2021. February 3, 2021. live.
  15. News: Tilley . Aaron . Who Is Andy Jassy? Jeff Bezos Acolyte Moves From Cloud to Amazon CEO . 3 February 2021 . Wall Street Journal . 2 February 2021.
  16. Web site: Andy Jassy is finally named CEO of Amazon Web Services . Novet . Jordan . 7 Apr 2016 . . 12 October 2017 . https://archive.today/20210203123143/https://venturebeat.com/2016/04/07/andy-jassy-is-finally-named-ceo-of-amazon-web-services/ . February 3, 2021 . live .
  17. Web site: The most highly paid Amazon executive isn't the CEO — it's the head of cloud. Anita. Balakrishnan. April 12, 2017. CNBC. October 12, 2017.
  18. Web site: Amazon.com, Inc. (AMZN) . July 26, 2020.
  19. Web site: Notice of 2020 Annual Meeting of Shareholders & Proxy Statement . May 22, 2020 . July 26, 2020 . Page 55, 56, 57.
  20. Web site: 2021-03-23 . AWS announces next CEO . 2024-03-27 . US About Amazon . en.
  21. Web site: November 23, 2021 . Avery . Hartmans . Jeff Bezos surprised Andy Jassy by picking him as Amazon CEO: VF . 2022-06-03 . Business Insider . en-US.
  22. Web site: Palmer . Annie . first year after succeeding Bezos as Amazon CEO . CNBC . July 5, 2022 . 8 April 2023.
  23. Web site: Thorbecke . Catherine . April 1, 2022 . Amazon CEO Andy Jassy's total compensation package topped $212 million . April 4, 2022 . CNN International.
  24. Web site: Meet Elana Rochelle Caplan, Amazon's next CEO Andy Jassy's fashion designer wife who loves traveling . https://archive.today/20210205002707/https://meaww.com/who-is-elana-jassy-wife-of-andy-jassy-new-amazon-ceo-jeff-bezos-politcal-donation-travel-family . 5 February 2021 . meaww.com.
  25. News: How Andy Jassy helped Amazon own the cloud . https://archive.today/20210203192009/https://fortune.com/2015/06/28/andy-jassy-amazon-web-services/ . 28 Jun 2015 . 3 February 2021 . 23 Feb 2021 . Rao . Leena . Fortune.com.
  26. Web site: Andy Jassy: Amazon Web Services (AWS) CEO . https://archive.today/20210223073917/https://www.montgomerysummit.com/speakers/andy-jassy/ . 23 February 2021 . montgomerysummit . 2 February 2021.
  27. Web site: Amazon Web Services CEO Andy Jassy Buys Prime Santa Monica Home. James. McClain. October 14, 2020 . https://archive.today/20210223074027/https://www.dirt.com/moguls/tech/amazon-andy-jassy-house-santa-monica-1203344910/ . 23 February 2021.
  28. Web site: Who is Andy Jassy, the Amazon exec who will replace Jeff Bezos as CEO?. Susie. Neilson. February 2, 2021. San Francisco Chronicle . https://archive.today/20210223074147/https://www.sfchronicle.com/business/article/Who-is-Andy-Jassy-the-Amazon-exec-who-will-15919346.php . 23 February 2021.
  29. Web site: Amazon's Andy Jassy Buys Santa Monica Home. October 14, 2020. The Real Deal Los Angeles . https://archive.today/20210204165502/https://therealdeal.com/la/2020/10/14/a-top-amazon-exec-buys-in-santa-monica/ . 4 February 2021.
  30. Web site: Board . October 12, 2017 . Rainier Prep.

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