Adam Selipsky, CEO of\u00a0Amazon\u2019s cloud computing business, will step down from his role next month, the company\u00a0announced\u00a0Tuesday.<\/p>\n
Matt Garman, senior vice president of sales and marketing at Amazon Web Services, will succeed Selipsky after he exits the company on June 3, Amazon said.<\/p>\n
In a memo to employees, Selipsky said he was leaving AWS after about 14 years to spend more time with his family, and said \u201cthe future is bright\u201d for the juggernaut cloud business.<\/p>\n
\u201cGiven the state of the business and the leadership team, now is an appropriate moment for me to make this transition, and to take the opportunity to spend more time with family for a while, recharge a bit, and create some mental free space to reflect and consider the possibilities,\u201d Selipsky wrote.<\/p>\n
Amazon CEO Andy Jassy wrote in a separate memo that Selipsky has \u201cdeftly led the business\u201d and said Garman, an 18-year veteran of the company, has \u201can unusually strong set of skills and experiences for his new role.\u201d<\/p>\n
In 2021, after Amazon announced that Jassy would take the helm from Jeff Bezos as Amazon\u2019s CEO,\u00a0many people speculated\u00a0that it was Garman who would replace Jassy as the head of AWS. Instead, Amazon\u00a0tapped\u00a0Selipsky, then the CEO of\u00a0Salesforce-owned data visualization software maker Tableau, for the role.<\/p>\n
During Selipsky\u2019s three years as CEO, AWS has confronted numerous challenges with its business, including a marked deceleration in revenue growth as rising interest rates caused companies to trim their cloud spend. Since last year, AWS has undergone\u00a0at least\u00a0two rounds of layoffs\u00a0as part of broader cuts at the company that resulted in more than 27,000 employees being let go. At the same time, it has had to respond to a surge in demand for generative artificial intelligence services, spurred largely by\u00a0Microsoft-backed OpenAI.<\/p>\n
AWS is still the cloud leader, and it remains one of Amazon\u2019s most profitable business units. It generated $9.42 billion in operating income, or about 62% of Amazon\u2019s total, in the most recent quarter.<\/p>\n
Selipsky\u2019s compensation for 2022 was $41.1 million, with $40.7 million generated in stock awards, according to\u00a0a securities filing. He didn\u2019t receive stock grants this year.<\/p>\n<\/p>\n
Adam Selipsky, CEO of\u00a0Amazon\u2019s cloud computing business, will step down from his role next month, the company\u00a0announced\u00a0Tuesday. Matt Garman, senior vice president of sales and marketing at Amazon Web Services, will succeed Selipsky after he exits the company on June 3, Amazon said. In a memo to employees, Selipsky said he was leaving AWS after […]<\/p>\n","protected":false},"author":0,"featured_media":4403,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4402","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/4402","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=4402"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/4402\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/4403"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=4402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=4402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=4402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}