New Amazon CEO: Meet Andy Jassy - This Harvard Business School grad is replacing billionaire Jeff Bezos

Last month Amazon Founder Jeff Bezos announced that Andy Jassy, the CEO of Amazon Web Services (AWS), will take over as the CEO of the e-commerce giant. from July 5. Today (July 5) Bezos will step down as Amazon CEO and Jassy will take over the charge of Amazon. 

Andy Jassy who joined Amazon in 1997 as a marketing manager and made its Cloud arm Amazon Web Services (AWS) a distinct leader, will take over as Amazon CEO. In 2003, Jassy founded Amazon Web Services (AWS) with a team of 57 people and in April 2016, he was promoted from senior vice president to the CEO of AWS. Today, AWS has nearly a $50 billion annual run rate and is growing exponentially, the news agency IANS reported.

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"If you look at AWS, as an example, to grow to a $46 billion revenue run rate with 29 per cent (year-over-year) growth meant we had to grow at an incremental $10 billion in the last 12 months to get there; that is much larger than you'll see elsewhere in the cloud," Jassy said in December during the annual "Re: Invent" conference.

"It took us 123 months, or a little over 10 years, to grow to a $10 billion business. Then it took us 23 months to go from $10 to $20 billion and 13 months to go from $20 to $30 billion, and then just 12 months to go from $30 to $40 billion," he was quoted as saying by IANS.

Born on January 13, 1968, Jassy graduated from Harvard College, where he was advertising manager of The Harvard Crimson, before earning an MBA from Harvard Business School. He is also one of the minority owners of the Seattle Kraken in the National Hockey League.

As per IANS report, for him, India is one of the fastest-growing markets. In 2018, he said that the Asia-Pacific region has huge potential to write the next growth story for Amazon Web Services (AWS), with India playing a key role in Cloud adoption among both enterprises and the governments.

Bezos, who built an online bookstore into a $1.7 trillion technology empire reaching into space, announced in February he will be stepping down as CEO at the apex of his career to focus on innovations.