![]() ![]() When you look at our financial results, what you’re actually seeing are the long-run cumulative results of invention. That yawn is the greatest compliment an inventor can receive. ![]() The announcement came alongside Amazon’s quarterly results, with Bezos noting the inventiveness of the company as being a good opportunity to step down: “If you do it right, a few years after a surprising invention, the new thing has become normal. But if you don't allow people to take chances and have an opportunity if it doesn't work out to be able to move on to something great, it's a self-fulfilling prophecy: none of the good people work on the new things because it will be too risky.” Jassy’s perspective is less well known, but in an interview with CERAWeek, he said: “If you want to invent and you want people to take chances and work on new initiatives, you have to be able to tolerate failure. In its latest results, for instance, Amazon reported that AWS accounted for 10% of sales and a whopping 52% of profits.īezos is quite famous for his strong opinions on management, including a “ two pizza rule” for meeting size. He has overseen the business as it has become increasingly crucial to the company. In 2003, he was one of the founders of AWS, rising to the role of CEO in 2016. The 52-year-old Jassy is a long-term veteran of the company, having joined the company in 1997, fresh off an MBA at Harvard. Moving into the role of Executive Chair, he is to be replaced by Andy Jassy, the current CEO of Amazon’s hugely successful cloud business, Amazon Web Services (AWS). But if you can justify your decision, even if he disagrees with you, he will respect you," one former senior employee said.Founder and CEO Jeff Bezos has announced he is to step down as Amazon CEO starting in Q3 2021. When Jassy reviews the proposal - usually with a pencil and not a pen - he prefers to speak after everyone else shares their thoughts, as most senior executives at Amazon do.īeing prepared for a Chop meeting is more important than pitching the right idea, insiders said. ![]() When it's time to present, as many as 50 people from teams including legal, product, and finance gather in the Chop and sit in complete silence, sometimes for as long as 30 minutes, as everyone in the room goes through the document. All documents requiring his attention are printed out - he rarely reviews them digitally, unless he's traveling - and often gathered in a manila folder. So teams often take weeks preparing for the Chop, going through dozens of versions of their presentations, which use Amazon's famous six-pagers that describe detailed plans for a new product or initiative. (The second conference room is called the Rothschild, named after Jassy's favorite high-school teacher). When AWS opened its new re:Invent headquarters building, named for its annual conference, the company turned the Chop into two side-by-side conference rooms so Jassy could schedule back-to-back meetings without delay. The Chop was initially a single conference room with a poster of the Dave Matthews Band, Jassy's favorite. ![]() The Chop is where ideas, and sometimes employees, go to get chopped down to size, more than a dozen current and former AWS employees told Insider for an in-depth profile on Jassy. It's called the "Chop," short for the 1839 novel "Charterhouse of Parma," and Jassy also used the acronym as the name for his college dorm room. 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. Account icon An icon in the shape of a person's head and shoulders. ![]()
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