Amazon said in a document Friday that it will award Andy Jassy 61,000 shares on Monday, at which point he will replace Jeff Bezos as the online retailer’s second CEO. The shares will be consolidated within a period of ten years.
This grant is a financial recognition of a high-priority leadership change at one of the world’s largest technology companies.
According to Bloomberg News, Bezos founded Amazon in 1994, and he is now the richest person in the world with a net worth of nearly $200 billion. You are now handing over the entire business to a trusted executive who has been responsible for running Amazon Web Services from the beginning, helping Amazon expand beyond business and making the business more profitable.
After serving as the shadow of Bezos, Jassy led the company to promote technologies that companies can use to run computing workloads and store data in Amazon data centers. The first services were launched in 2006. Now the company leads the market with Microsoft, Google, and other companies trying to catch up.
Based on Amazon’s Friday closing price of US$351.098 per share, the value of the additional shares is US$214 million. According to FactSet data, in addition to the award, Jassy also owns 0.02% of Amazon shares, valued at more than $ 300 million.
Jassy was succeeded as head of AWS by Adam Selipsky, who rejoined Amazon from Salesforce earlier this year.
