July 5th symbolizes the official takeover day at Amazon as Jeff Bezos officially steps down and Andy Jassy takes the helm officially as CEO of Amazon.
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As part of the package offered to Andy in the new role he is set to receive a significant share package, and whilst Andy is certainly not struggling for cash, his net worth is set to increase substantially. Amazon filed with the Securities and Exchange Commission earlier in the week which stated that Jassy will receive 61,000 shares of the firm’s common stock vested over 10 years when he becomes President and CEO on July 5th.
At the current Amazon stock price as it closed on Friday at $3,510.98 would mean 61,000 shares would be equal to $214,169,780.
It is a pretty safe bet that unless some catastrophe occurs that the Amazon stock price will continue to increase. Whilst there may be some investor uncertainty about a new CEO at Amazon it is worth remembering that Andy Jassy has been with Amazon since 1997 and many believe has been groomed to take over the helm from Jeff for a number of years.
It is also worth remembering that Jeff isn’t going away completely. He will move into a role as Chairman of The Board, and whilst he will be exploring other pursuits such as his upcoming space trip, you can be pretty confident he will also be keeping his finger on the pulse at Amazon.
We will wait and see if there will be any significant changes in the direction and day-to-day running of Amazon, but we genuinely suspect there will be very little change. Throughout his tenure, Jeff has made it clear about what the goals are for Amazon and the key drivers for the company. This culture runs deep and with Andy at the helm, many believe he is the perfect replacement for Jeff as someone who has learned a lot from his predecessor over his 24 years at the company.
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