Who is Amazon's next CEO?

On Tuesday, Amazon's founder Jeff Bezos surprised markets when he announced his plan to hand the reins to Andy Jassy, the head of the company's on-demand cloud computing platform later in the year.

Mr Bezos will become executive chairman of the world's largest retailer after nearly 30 years as its chief executive - a process expected to complete in the third quarter of this year.

Mr Jassy, 52, who joined Amazon in 1997 – the year the company went public – played a crucial role in launching Amazon Web Services (AWS) in 2006.

The cloud computing platform generated $45.37 billion worth of sales last year, almost 12 per cent of the company's total revenue of over $386bn, according to figures released on Tuesday. It competes with the likes of Microsoft Azure, Google Cloud, Oracle Cloud and others.

"I took my last final exam at HBS [Harvard Business School], the first Friday of May in 1997 and I started Amazon next Monday … no, I didn't know what my job was going to be, or what my title was going to be," Mr Jassy said in a HBS podcast in September.

Initially, he joined Amazon’s eight-member marketing team, managing competitive intelligence and customer retention. After a few months, he was moved onto another project exploring new product categories.

AWS chief executive Andy Jassy discusses a new initiative at a conference in Las Vegas. AP

After working in various departments and even as a shadow to Mr Bezos, Mr Jassy joined a team to create a "vision document" for how companies might operate in the future.

“And that's what turned into AWS … that was back in late 2003 ... since then I've been managing the AWS business,” he added.

Jeff Bezos to step down as Amazon chief executive

Alphabet’s Q4 profit surges 43% on strong Google business

Mr Jassy, who had the opportunity to work closely with Mr Bezos during the early days of his career, described him as an unusual thinker.

“I don't know if I've ever seen anybody with the mix of skills that he has. He is very inventive. He is an unusual mix of both having strong technical competence, but also very strong customer empathy. You don't usually find those two in a single person,” Mr Jassy said.

Mr Jassy has also spoken out on a number of social issues, such as the death of George Floyd while in custody of the Minneapolis police last year. Mr Jassy is married to fashion designer Elana Rochelle Caplan and is the father of two children.

Amazon, which employs 1.3 million people and has a $1.7 trillion market cap, reported its first $100bn-plus financial quarter on Tuesday, owing to what it called a "record-breaking holiday season". The company earned $125.56bn of revenue, making a net profit of $7.2bn.

"Andy is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader, and he has my full confidence," Mr Bezos said in a statement announcing his appointment.

“Being the CEO of Amazon is a deep responsibility, and it’s consuming. When you have a responsibility like that, it’s hard to put attention on anything else.”

As executive chairman, Mr Bezos said he will engage in important Amazon initiatives and focus on other programmes such as the Day 1 Fund, the Bezos Earth Fund, space flight company Blue Origin and The Washington Post.

“This isn’t about retiring. I am super passionate about the impact I think these organisations can have,” he said.

While you're here

Mustafa Alrawi: To get the 'jab' done, there must be patience and empathy

Damien McElroy: Anti-science attitudes in America are proving lethal

Editorial: What makes the UAE such a good place to test vaccines?

Editorial: The fight against Covid-19 should be guided by science

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants

Women’s T20 World Cup Asia Qualifier

ICC Academy, November 22-28

UAE fixtures
Nov 22, v Malaysia
Nov 23, v Hong Kong
Nov 25, v Bhutan
Nov 26, v Kuwait
Nov 28, v Nepal

ICC T20I rankings
14. Nepal
17. UAE
25. Hong Kong
34. Kuwait
35. Malaysia
44. Bhutan

UAE squad
Chaya Mughal (captain), Natasha Cherriath, Samaira Dharnidharka, Kavisha Egodage, Mahika Gaur, Priyanjali Jain, Suraksha Kotte, Vaishnave Mahesh, Judit Peter, Esha Rohit, Theertha Satish, Chamani Seneviratne, Khushi Sharma, Subha Venkataraman

Fast%20X

%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Louis%20Leterrier%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Vin%20Diesel%2C%20Michelle%20Rodriguez%2C%20Jason%20Statham%2C%20Tyrese%20Gibson%2C%20Ludacris%2C%20Jason%20Momoa%2C%20John%20Cena%2C%20Jordana%20Brewster%2C%20Nathalie%20Emmanuel%2C%20Sung%20Kang%2C%20Brie%20Larson%2C%20Helen%20Mirren%20and%20Charlize%20Theron%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A

FROM%20THE%20ASHES

%3Cp%3EDirector%3A%20Khalid%20Fahad%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Shaima%20Al%20Tayeb%2C%20Wafa%20Muhamad%2C%20Hamss%20Bandar%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A

ESSENTIALS

The flights
Emirates, Etihad and Swiss fly direct from the UAE to Zurich from Dh2,855 return, including taxes.

The chalet
Chalet N is currently open in winter only, between now and April 21. During the ski season, starting on December 11, a week’s rental costs from €210,000 (Dh898,431) per week for the whole property, which has 22 beds in total, across six suites, three double rooms and a children’s suite. The price includes all scheduled meals, a week’s ski pass, Wi-Fi, parking, transfers between Munich, Innsbruck or Zurich airports and one 50-minute massage per person. Private ski lessons cost from €360 (Dh1,541) per day. Halal food is available on request.

Race card

1.45pm: Maiden Dh75,000 1,200m.

2.15pm: Maiden Dh75,000 1,200m.

2.45pm: Handicap Dh95,000 1,200m.

3.15pm: Handicap Dh120,000 1,400m.

3.45pm: Handicap Dh80,000 1,400m.

4.15pm: Handicap Dh90,000 1,800m.

4.45pm: Handicap Dh80,000 1,950m.

The National selections:

1.45pm: Galaxy Road – So Hi Speed

2.15pm: Majestic Thunder – Daltrey

2.45pm: Call To War – Taamol

3.15pm: Eqtiraan - Bochart

3.45pm: Kidd Malibu – Initial

4.15pm: Arroway – Arch Gold

4.35pm: Compliance - Muqaatil

The%20specs

%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%20turbocharged%204-cyl%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E8-speed%20auto%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E300bhp%20(GT)%20330bhp%20(Modena)%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E450Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EDh299%2C000%20(GT)%2C%20Dh369%2C000%20(Modena)%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A

MATCH INFO

Uefa Champions League semi-final, first leg

Tottenham 0-1 Ajax, Tuesday

Second leg

Ajax v Tottenham, Wednesday, May 8, 11pm

Game is on BeIN Sports

While you're here

David Frum: How President Joe Biden is already showing he's an old man in a hurry

Patrick deHahn: Amtrak reveals US rail expansion goals after Biden's $2 trillion bill

Rashmee Roshan Lall: Biden should avoid copying the Swiss wealth tax model

COMPANY PROFILE

Name: Kumulus Water

Started: 2021

Founders: Iheb Triki and Mohamed Ali Abid

Based: Tunisia

Sector: Water technology

Number of staff: 22

Investment raised: $4 million

Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

Available: Now

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

Voy!%20Voy!%20Voy!

%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Omar%20Hilal%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Muhammad%20Farrag%2C%20Bayoumi%20Fouad%2C%20Nelly%20Karim%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A

While you're here

Con Coughlin: Grandstanding in Turkey leads to terrorism in France

Con Coughlin: The terror threat in Europe remains as potent as ever

Sholto Byrnes: After Charlie Hebdo, is religion dividing the world?

The specs: 2018 Ford Mustang GT

Price, base / as tested: Dh204,750 / Dh241,500
Engine: 5.0-litre V8
Gearbox: 10-speed automatic
Power: 460hp @ 7,000rpm
Torque: 569Nm @ 4,600rpm
Fuel economy, combined: 10.3L / 100km

The specs: 2019 Haval H6

Price, base: Dh69,900

Engine: 2.0-litre turbocharged four-cylinder

Transmission: Seven-speed automatic

Power: 197hp @ 5,500rpm

Torque: 315Nm @ 2,000rpm

Fuel economy, combined: 7.0L / 100km

The specs: 2019 BMW X4

Price, base / as tested: Dh276,675 / Dh346,800

Engine: 3.0-litre turbocharged in-line six-cylinder

Transmission: Eight-speed automatic

Power: 354hp @ 5,500rpm

Torque: 500Nm @ 1,550rpm

Fuel economy, combined: 9.0L / 100km

The Scale for Clinical Actionability of Molecular Targets

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.