Amazon grants 61,000 shares of stock to incoming CEO Andy Jassy

Andy Jassy, CEO of Amazon Web Companies.

Patrick T. Fallon | Bloomberg | Getty Photos

Amazon said in a filing on Friday that this may possibly occasionally per chance grant Andy Jassy 61,000 shares of stock on Monday, when he replaces Jeff Bezos as the secure retailer’s second CEO. The shares will vest over a duration of ten years.

The grant represents a financial acknowledgment of a excessive-priority management exchange for undoubtedly one of many arena’s top abilities corporations.

Bezos based mostly Amazon in 1994 and is at the present time the arena’s richest individual, with a secure payment of virtually $200 billion, per Bloomberg. Now he is handing over the total company to a trusted govt who led Amazon Web Companies since its inception, serving to Amazon amplify beyond commerce and making the company extra successful.

After serving as Bezos’ shadow, Jassy led the company’s push into abilities that corporations may possibly spend to shuffle computing workloads and retailer knowledge in Amazon’s knowledge companies and products, with the first companies and products arriving in 2006. Now the company leads the market, with Microsoft, Google and rather about a corporations attempting to take up.

The extra shares are payment $214 million at Amazon’s Friday closing tag of $3.510.98 per fragment. As well to the award, Jassy owns 0.02% of Amazon stock, payment larger than $300 million, per FactSet.

Jassy’s successor as AWS chief is Adam Selipsky, who rejoined Amazon from Salesforce earlier this twelve months.

WATCH: The Week Forward: Bezos steps down as Amazon CEO

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