Adam Selipsky, the current CEO of Amazon Web Services (AWS), is set to step down from his role, with AWS head of sales Matt Garman taking the reins. Garman, who previously led AWS's EC2 cloud computing organization, will take over as CEO effective June 3.
Selipsky, one of the first vice presidents hired at AWS in 2005, spent 11 years overseeing sales, marketing and support before assuming the role of CEO of Tableau, a data visualization software company. He returned to Amazon in 2021 to lead AWS. Garman, on the other hand, joined AWS in 2006 as one of the first product managers and eventually became the general manager of all AWS IT services in 2016.
Selipsky's tenure was marked by some significant events, including a perceived missed opportunity in generative AI. AWS planned to release its own generative AI model similar to OpenAI's ChatGPT, but technical issues led to a postponement. In addition, AWS passed on opportunities to support two leading generative AI startups, Cohere and Anthropic, and later had to settle for a co-investment in Anthropic with Google.
Despite these challenges, Selipsky's leadership saw AWS hit a $100 billion annualized revenue rate last quarter, with year-over-year revenue accelerating. However, in 2023, AWS's unit revenue growth slowed to record lows, and the company suffered major layoffs as part of broader cuts at Amazon, resulting in more than 27,000 employees were abandoned.
Despite these setbacks, AWS remains the market leader in the cloud industry, with a market share of around 31%, compared to Microsoft Azure's 25% and Google Cloud's 11%. In the most recent fiscal quarter, AWS generated $9.42 billion in operating income, which is about 62% of Amazon's total. The company's generative AI businesses alone have reached a combined “multi-billion dollar run rate,” according to recent reports.
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