February 3, 2021
Executive moves, financial reports, news
Andy Jassy CEO Amazon Web Services
Amazon’s cloud computing business (Nasdaq: AMZN) saw revenue jump 28 percent in the fourth quarter of 2020 and accounted for 10 percent of its parent company’s total revenue, CNBC reported Tuesday.
At Amazon Web Services, fourth quarter net revenue increased from $ 9.95 billion to $ 12.7 billion and posted operating income of $ 3.56 billion, up 37 percent year over year.
The Seattle-based technology company also announced Tuesday that Andy Jassy, CEO of AWS, will succeed Jeff Bezos as CEO of Amazon in the third quarter of 2021. Bezos will assume the role of Executive Chair of the company he founded more than two decades ago.
Jassy is the founder of AWS. He joined Amazon in 1997 and has held leadership positions across the company ever since.