Amazon Web Services CEO to resign, effective June 3

Amazon's (AMZN) cloud computing arm, Amazon Web Services (AWS), is undergoing a leadership transition. Adam Selipsky, the CEO of AWS, has announced his resignation after an 18-year tenure. Effective June 3, Matt Garman will be the new CEO of AWS.

Yahoo Finance's Josh Lipton and Julie Hyman break down the details.

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This post was written by Angel Smith

Video transcript

As Adam Sippy CEO of Amazon Web services, is stepping down from his role after spending 18 years in AWS sippy, knowing he is taking the opportunity to spend more time with family and says the future is bright for Amazon.

Similar sentiment he shared when speaking with Yahoo Finance earlier this month on our opening bid podcast.

We're optimistic about the business outlook for AWS, and I think it can continue to grow.

Uh, really rapidly.

I don't really see, uh, an upper limit on it.

Uh, of course, it's not our birthright.

It's not guaranteed.

And, uh, we'll only be as successful as what we do tomorrow for customers.

You know, so interesting.

Julie S Lipsky.

I mean, very, you know, well regarded executive Interesting career because he was at AWS early days goes to Run Tableau, which sold to sales force, then returns to AWS three years ago, but certainly helped turn AWS just to a juggernaut.

And he was there pre revenue, of course, now reaching a $100 billion annual revenue run rate.

Yeah, and he was only running the place for about three years, even when he came in.

Reportedly, I was seeing some some reports that some internal executives were surprised that Matt Garman was not then getting the job.

He is now getting the job, by the way.

He is the one who is replacing Sippy as head of AWS as of june 3rd.

Um, so Garman had to wait a little bit longer, but eventually he ended up getting the position.

Yeah, The team at Bayer actually told their clients today they like Matt Garmon in this role.

They called him a solid replacement to lead AWS say that Well respected, both internally and with AWS customers says he has a strong product background.

So interesting.

I mean, they obviously now kind of the next for investors.

They want to see Matt now kind of drive growth in a I gen A I, um, to reinforce AWS leadership.

Um, so it'll be interesting, but But he has bairds Baird's, uh, full full support there.

Yeah, and you know, AWS did perform well last quarter.

They did see, uh, better than estimated growth there.

So that is true.

So coming into a good position