![]() ![]() There's a conference room outside Amazon Web Services CEO Andy Jassy's Seattle office where he makes the decisions that guide Amazon's $40 billion-a-year cloud business. The headline has been updated to reflect Amazon's official announcement. Later in the day, Andy Jassy was officially named Amazon CEO, succeeding Jeff Bezos who will step into an executive chairman position beginning in the third quarter. It often indicates a user profile.Įditor's note: This story was originally published the morning of February 2. The billionaire, whose wealth comes from his ownership stake in the company, has never received equity compensation from Amazon.Account icon An icon in the shape of a person's head and shoulders. Senior vice presidents Jeffrey Blackburn and Diego Piacentini got $US22.2 million and $US23.7 million, respectively, mostly coming from biennial stock grants.ĬEO Bezos, who's the world's second-richest person with a net worth of $US77.7 billion, got his usual $US81,840 annual salary and $US1.6 million in security services last year. Emphasising certain criteria "could cause employees to focus solely on short-term returns at the expense of long-term growth and innovation", Amazon's board said in the filing.Īmazon last year also promoted Jeffrey Wilke to CEO of the worldwide consumer business, awarding him a $US33 million compensation package, the bulk coming from restricted shares vesting over several years. That sets them apart from large companies in other industries, which tend to link payouts to specific goals such as revenue or stock return. Like fellow tech giant Alphabet, Amazon mainly pays top employees with biennial grants of restricted shares that vest over several years independently of company performance. "Inside AWS, we're excited to lower the costs and barriers to machine learning and AI so organisations of all sizes can take advantage of these advanced techniques," Bezos wrote in his annual letter to shareholders, which was also released Wednesday. AWS has data centres around the world that provide computing power for many large companies, such as Netflix and Capital One. The unit, which Jassy has run since its inception 11 years ago, brought in a record $US12.2 billion in revenue last year as the company introduced an image-recognition program, a speech-to-text service dubbed Polly and tools for building conversational apps. Jassy is leading a push into artificial intelligence to boost Amazon's cloud computing, which commands about 45 per cent of the market for infrastructure as a service, where companies buy basic computing and storage power from the cloud. Jassy, promoted to a new CEO role for the division a year ago, was the company's top-paid employee among the six executives whose compensation has to be publicly disclosed, including chief executive officer Jeff Bezos.Īndrew Jassy is leading a push into artificial intelligence to boost Amazon's cloud computing, which commands about 45 per cent of the market for infrastructure as a service, where companies buy basic computing and storage power from the cloud. The shares rose in value to about $US54 million as of Tuesday's close. The head of Amazon Web Services, which includes the company's cloud business, received $US35.4 million ($47.01 million) in stock and about $US179,000 in salary and a 401(k) match, according to a regulatory filing from the Seattle-based company on Wednesday. ![]() Leading the fastest-growing and most profitable division of is paying off for Andrew Jassy. ![]()
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