Home News Andy Jassy, An Amazon Pioneer, Inherits Bezos’s Challenges And Rewards

Andy Jassy, An Amazon Pioneer, Inherits Bezos’s Challenges And Rewards

Andy Jassy, An Amazon Pioneer, Inherits Bezos’s Challenges And Rewards

Amazon’s new CEO Andy Jassy has been a trusted lieutenant to founder Jeff Bezos since the early days of the online behemoth, but he is taking over a company that faces new scrutiny to its expanding influence.

Jassy was just 29 when he joined Amazon in 1997, three years after Bezos started a then-modest business from his Seattle garage.

With an MBA degree in hand, Jassy left prestigious Harvard Business School “the first Friday of May in 1997 and started at Amazon the next Monday,” he told the Disruptive Voice podcast in September.

Jassy’s arrival came just before Amazon issued an initial public offering (IPO) that valued its shares at $18 and listed the company as a simple “online bookseller”. Today its stock trades for around $3,500.

The group, of course, has since become a colossus of the American and global economies, selling everything from cloud computing services to groceries and film production.

Jassy has played a key role in that ambitious diversification. He notably helped found Amazon Web Services (AWS) in 2003 and has run it since.

The cloud computing services provided by AWS are not particularly well-known among the broad public but have become one of Amazon’s most profitable divisions, dominating the world market ahead of other giants like Microsoft and Google.

“We believe this succession was well-planned and anticipate a smooth transition,” Standard & Poor Global Ratings said in an analyst’s note. “Mr. Jassy has a solid track record.”

S&P also gave a positive nod to Jassy’s successor in the cloud-computing branch, AWS veteran Adam Selipsky, saying his appointment was “part of this well-executed management transition plan.”

Jassy, a lover of music and movies and part-owner of a professional hockey team, has been described as being more accessible than Bezos while remaining deeply immersed in the details surrounding the cloud division.

Amazon, its vast reach boosted by surging online sales during the COVID-19 pandemic, currently has a market value of some $1.7 trillion.

Jassy, as its new leader, is set to receive a generous welcome: a 10-year pay package including 61,000 Amazon shares worth more than $200 million, based on the share value at the market’s close on Friday.

The question now is whether the enormous group will continue on its current course or will shift in new directions.

It is too early to say, but on the Disruptive Voice podcast, Jassy paid tribute to his mentor Bezos as a deep thinker with a rare combination of technical skills and empathy for consumers.

Like Bezos, he will face daunting challenges amid growing questions about Amazon’s market domination and distortion, as the group not only sells its own products but sets the rules for how other companies sell theirs on its platform.

While the company has boasted of its $15 minimum wage and other benefits, critics say its relentless focus on efficiency and worker surveillance has treated employees like machines.

Bezos, for his part, plans to turn his attention to his private space exploration firm, philanthropy, and other endeavors while retaining a key role as executive chair at the e-commerce leviathan.

Eskalera, a Startup Led by Goldman Sachs’ Former HR Head Has Launched a Diversity and Inclusion Index

Eskalera, a technology startup led by Goldman Sachs former human resources head Dane Holmes, has launched an index to measure corporate diversity and inclusiveness,...

HSBC to Remove 35,000 Jobs Amidst Covid-19 Crises

HSBC Holdings Plc has restarted cutting as many as 35,000 jobs, three months after the coronavirus outbreak forced it to pause a long-awaited overhaul...

Genpact Offers Its Internal Skill Training Program Globally for Everyone

Genpact has announced Adapt and Rise, a role-based online learning platform that leverages Genpact's expertise honed from delivering real-world change for hundreds of clients....

San-Francisco Based Learning Platform Degreed Has Raised $32 Million in New Funding

The upskilling platform, Degreed, has announced $32 million in new funding in direct response to overwhelming demand for better skill insights, talent mobility, and...

Research Shows the Implications of Workplace Layouts on Employee Productivity and Overall Performance

As some workplaces prepare for the gradual return of employees and overhaul office layouts and seating plans, research has shown this could also have...

Employee Concierge ‘Back Technologies’ Integrates Automation Into Internal HR and Other Support Tasks

Companies are under increasing pressure to automate workflows and digitally service their employees, particularly in light of trends toward remote work. It takes an...

HR Strategies to Help Your Business Navigate the New ‘Normal’

No business is immune to the massive changes resulting from the health crisis. Organizations have proven themselves to be agile, and employees have demonstrated...

The Importance Of Diversity And Inclusion In HR, Hiring, Talent Management: Thoughts From A Top Expert

Michael C. Hyter is one of today’s best-known experts on inclusion and diversity and the author of The Power of Choice: Embracing Efficacy to Drive Your Career and The...

HR Expert Highlights Actionable Steps to ‘Make Real Change’ Against Racism in Your Workplace

Kyra Leigh Sutton, Ph.D., is a faculty member at the Rutgers University School of Management and Labor Relations, where she teaches human resources courses...

Adidas Employees Want Company to Investigate HR Chief for Response to Racial Issues

A group of Adidas employees from around the globe is asking the company to investigate its chief human resources officer, as part of a...