![]() ![]() One of the big decisions made in a recent Chop meeting, held virtually because of the pandemic, was the call to cut off the social-media app Parler from Amazon's cloud-hosting service. He's a shark who will smell a drop of blood from 100 miles away if you're not ready." "He has a tremendous amount of trust in his team, but you have to be at the highest levels of diligence and preparation for any meeting with him. "If you go to a Chop meeting with Andy, you better be ready," one former senior-level employee told Insider. The Chop is also where big ideas, and sometimes employees, go to get chopped down to size, according to people familiar with the company. Originally the name of a physical conference room next to his office at Amazon's Seattle headquarters - short for "Charterhouse of Parma," a book Jassy read in college - the Chop has also come into use as a catchall term for the meetings where Jassy holds his most important brainstorming and planning sessions. When Amazon Web Services CEO Andy Jassy has a big decision to make, it usually comes at the Chop. The headline has been updated to reflect the news. On July 5, Andy Jassy officially became Amazon CEO, succeeding Jeff Bezos, who steps into the position of executive chairman. Visit Insider's homepage for more stories.Įditor's note: This story was originally published January 31, 2021. ![]() Current and former employees describe him as hard-charging and obsessed with customer experience.Jassy grew Amazon Web Services into a $40 billion business as its leader.Andy Jassy officially becomes CEO of Amazon on Monday, succeeding Jeff Bezos.In addition, last year Amazon sold $5.3 million of consumer goods to Blue Origin under a line of credit it paid Blue Origin $650,000 in data and content license fees and incurred $669,000 for content production, marketing, and related costs.Account icon An icon in the shape of a person's head and shoulders. In 2021, Amazon purchased approximately $1.3 million in advertising from the Washington Post (versus $1.6 million in 2020) and paid $8.5 million related to digital content to the publication (up from $6.5 million in 2020), “all on terms negotiated on an arms-length basis,” according to the company. In the proxy filing Friday, Amazon also disclosed business dealings with two Bezos-owned companies: the Washington Post and Blue Origin, an aerospace manufacturer and spaceflight services company. He helped form the company’s fast-growing and profitable Amazon Web Services division in 2003 and had served as CEO of AWS since 2016. Jassy joined the company in 1997, the year the company went public. ![]() He was named Bezos’ successor as CEO in February 2021. Bezos’s shares as founder incentivized him to focus on long-term, expansive growth,” the committee said.Īmazon disclosed Jassy’s stock award of 61,000 shares in July 2021. “Faced with the first CEO succession in the Company’s history, the Leadership Development and Compensation Committee determined it important to provide for clarity and stability through an award that is designed to establish a long-term owner’s perspective and encourage bold, long-term initiatives, in the same manner that Mr. Jassy, and, accordingly, believes it should be viewed as compensation over the 10-year term and not solely as compensation for 2021.”Ĭlick here to sign up for Variety’s free Strictly Business newsletter covering earnings, financial news, and more. The Amazon board’s compensation committee said in the filing that it intends for Jassy’s stock award, which vests through 2031, “to serve as a long-term incentive for Mr. ![]()
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