When Jeff Bezos stepped apart in 2021, the Amazon.com Inc. (NASDAQ:AMZN) founder handed the keys to Andy Jassy, a longtime insider whose management philosophy was formed lengthy earlier than boardrooms — by classes from his father.
From Early Amazon Worker To Bezos’ Chosen Successor
Jassy turned Amazon’s second CEO in July 2021, marking a uncommon management transition at one of many world’s strongest firms.
Jassy joined Amazon in 1997 — the same year it went public — and spent many years rising by the ranks earlier than founding Amazon Internet Providers (AWS) in 2006.
AWS would develop into Amazon’s most worthwhile engine and by the point Jassy stepped down as its CEO in 2021, the cloud unit had grown right into a roughly $40 billion annual enterprise.
That monitor document made him Bezos’s clear alternative to guide the $2.49 trillion e-commerce and cloud large.
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The Childhood Classes That Nonetheless Information Amazon’s CEO
In a 2022 Amazon-hosted fireplace chat, Jassy stated his greatest affect rising up wasn’t a enterprise chief — it was his father.
Jassy described his dad as a considerate, humble and hardworking man who quietly taught him accountability and self-discipline.
One lesson caught from watching his father rigorously signal checks and receipts. When Jassy requested why he took a lot time, his father informed him by no means to imagine he was too necessary for others to learn his identify — a reminder, Jassy stated, that nobody is above accountability.
One other second got here at a childhood soccer recreation, when Jassy’s father challenged him to run a mile. After ending slowly and proudly declaring success, Jassy recalled his father responding bluntly: If you are going to do one thing midway, do not do it in any respect.
“He doesn’t bear in mind saying that both, nevertheless it all the time caught with me that in the event you’re gonna do one thing, do it proper or don’t do it. And so he simply was a fantastic function mannequin my complete life,” Jassy stated, explaining that these classes nonetheless play like “tapes” at the back of his thoughts when he makes choices at this time.
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Inside Andy Jassy’s First-12 months CEO Pay Package deal
Amazon disclosed that Jassy earned $212.7 million in whole compensation in 2021, his first yr as CEO. Almost all of it got here from restricted inventory that vests over 10 years, designed to incentivize long-term efficiency. His base wage remained $175,000.
Jassy formally took over on July 5, 2021, coinciding with the twenty seventh anniversary of the corporate’s incorporation.
Amazon shares closed at an adjusted $159.90 on July 7, 2021, and had been buying and selling at $232.53 as of Tuesday’s shut, marking a roughly 45% achieve since Jassy assumed management.
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Disclaimer: This content material was partially produced with the assistance of AI instruments and was reviewed and revealed by Benzinga editors.
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