He took charge of Amazon's biggest moneymaker. Now he faces a new set of challenges
CNN
When Jeff Bezos decided to give up his role as Amazon's chief executive earlier this year, it prompted the company to name not one but two new CEOs. The first, Andy Jassy, replaced Bezos as CEO of Amazon's sprawling business. The second, Adam Selipsky, was hired in March to fill Jassy's old role as CEO of Amazon's single biggest moneymaker: Amazon Web Services (AWS).
Selipsky was no stranger to AWS. He first joined the Amazon cloud computing division in 2005, before its services were even publicly available. But in 2016, after 11 years with the company, he left. In the five years he was away running data visualization firm Tableau, the business and the industry changed considerably, bringing Selipsky a new set of challenges.
Annual revenue from AWS nearly quadrupled in that time, and the pandemic caused a huge surge in demand for cloud computing and cloud-based services. But the competitive landscape also intensified. While AWS pioneered cloud technology and is the longtime industry leader, rivals like Microsoft (MSFT) Azure and Google (GOOGL GOOGLE) Cloud have stolen some of its market share.
Millions of Americans have taken to the skies, hit the road, fired up the barbecue grill and jumped into the pool this weekend to celebrate the start of summer 2024. Analysts are expecting the Memorial Day weekend to usher in yet another summer of strong consumer spending on travel and other leisure activities.