Amazon grants 61,000 shares of inventory to incoming CEO Andy Jassy (cnbc.com)
PUBLISHED FRI, JUL 2 2021 4:53 PM EDT
Andy Jassy will get a inventory award value $214 million at immediately’s worth as he takes over as Amazon CEO.
The award will vest over ten years.
Jassy constructed up the Amazon Internet Providers cloud enterprise that leads the market.
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Amazon mentioned in a submitting on Friday that it’ll grant Andy Jassy 61,000 shares of inventory on Monday, when he replaces Jeff Bezos as the net retailer’s second CEO. The shares will vest over a interval of ten years.
The grant represents a monetary acknowledgment of a high-priority management change for one of many world’s high know-how firms.
Bezos based Amazon in 1994 and is immediately the world’s richest individual, with a web value of practically $200 billion, in line with Bloomberg. Now he’s handing over your entire firm to a trusted govt who led Amazon Internet Providers since its inception, serving to Amazon broaden past commerce and making the corporate extra worthwhile.
After serving as Bezos’ shadow, Jassy led the corporate’s push into know-how that firms may use to run computing workloads and retailer knowledge in Amazon’s knowledge facilities, with the primary providers arriving in 2006. Now the corporate leads the market, with Microsoft, Google and different firms attempting to catch up.
The extra shares are value $214 million at Amazon’s Friday closing worth of $3.510.98 per share. Along with the award, Jassy owns 0.02% of Amazon inventory, value greater than $300 million, in line with FactSet.
Jassy’s successor as AWS chief is Adam Selipsky, who rejoined Amazon from Salesforce earlier this 12 months.