Amazon Web Services CEO Andy Jassy – credited as the ‘father’ of cloud computing – will become the new CEO of parent company Amazon.com when founder Jeff Bezos steps down in the third quarter.
Amazon made the announcement in its fourth-quarter earnings report issued after the closing bell today.
Jassy, who joined Amazon right out of Harvard Business School, started and grew AWS into the dominant leader of the public cloud computing industry.
Bezos will transition to the role of executive chair at Amazon.
“Amazon is what it is because of invention,” Bezos said in a statement. “We do crazy things together and then make them normal. We pioneered customer reviews, 1-Click, personalized recommendations, Prime’s insanely-fast shipping, Just Walk Out shopping, the Climate Pledge, Kindle, Alexa, marketplace, infrastructure cloud computing, Career Choice, and much more.”
“If you do it right, a few years after a surprising invention, the new thing has become normal,” Bezos continued. “People yawn. That yawn is the greatest compliment an inventor can receive. When you look at our financial results, what you’re actually seeing are the long-run cumulative results of invention. Right now, I see Amazon at its most inventive ever, making it an optimal time for this transition.”
This story is developing.