Amazon Web Services chief Andy Jassy will join the company’s board of directors as he takes over for Jeff Bezos as Amazon’s new CEO on July 5, the company said in a new filing Friday.
Jassy, who joined Amazon in 1997 and has led AWS since its inception, will be Amazon’s 11th board director. The company currently has six men and four women on the 10-member board.
Jassy takes over Amazon as CEO on Monday. Bezos will remain as executive chairman.
Amazon also said today that Jassy will also receive 61,000 shares of common stock, valued at more than $200 million, as part of his promotion. His total stake in the company will be north of $500 million.
Corporations are increasingly being called upon to increase board diversity. In 2018, facing an employee backlash and public criticism from black and Hispanic members of Congress, Amazon adopted a new policy to consider “a slate of diverse candidates, including women and minorities” for future openings on its board. The company said at the time that it was merely formalizing its existing practice.
Amazon added two women of color to its board in 2019. One of the women, former Starbucks exec Rosalind Brewer, left the board this year after taking a role as Walgreens CEO.
Amazon’s other board directors are Bezos; Keith Alexander; Jamie Gorelick; Daniel Huttenlocher; Judith McGrath; Indra Nooyi; Jonathan Rubinstein; Thomas Ryder; Patricia Stonesifer; and Wendell Weeks.
Previously: Amazon’s next CEO, Andy Jassy, is a music-loving, wing-eating, hard-charging disciple of Jeff Bezos