Who is Andy Jassy, soon to replace Jeff Bezos as Amazon CEO?
Founder and CEO Jeff Bezos has announced he is to step down as Amazon CEO starting in Q3 2021.
The inside hire
The 52-year-old Jassy is a long-term veteran of the company, having joined the company in 1997, fresh off an MBA at Harvard. In 2003, he was one of the founders of AWS, rising to the role of CEO in 2016. He has overseen the business as it has become increasingly crucial to the company. In its latest results, for instance, Amazon reported that AWS accounted for 10% of sales and a whopping 52% of profits.
Bezos is quite famous for his strong opinions on management, including a “” for meeting size. Jassy’s perspective is less well known, but in an , he said: “If you want to invent and you want people to take chances and work on new initiatives, you have to be able to tolerate failure. None of us like failure at Amazon. But if you don't allow people to take chances and have an opportunity if it doesn't work out to be able to move on to something great, it's a self-fulfilling prophecy: none of the good people work on the new things because it will be too risky.”
Bye bye Bezos?
The announcement came alongside Amazon’s , with Bezos noting the inventiveness of the company as being a good opportunity to step down: “If you do it right, a few years after a surprising invention, the new thing has become normal. People yawn. That yawn is the greatest compliment an inventor can receive. When you look at our financial results, what you’re actually seeing are the long-run cumulative results of invention. Right now I see Amazon at its most inventive ever, making it an optimal time for this transition.”
The move will see Bezos less involved in the day-to-day running of the company, as he turns his attention to his other projects, including space company Blue Origin. Bezos’ affection for that business is well known, having previously as “the most important work” that he’s doing.
ServiceNow pumps millions into EU service compliance
ServiceNow, the digital workflow company, has announced a multimillion euro investment to help EU customers meet compliance requirements.
The legal, technical and organisational safeguards will help companies to comply with the the Schrems II judgment and European Data Protection Board (EDPB) Recommendations issued in June 2021.
ServiceNow’s investment means all EU-hosted data will be exclusively handled within the EU, and the cloud-hosted digital workflow provider claims its solution will come “without impact on current delivery and service”.
ServiceNow upgrade: free of charge
There will be no cost for current customers to opt in to the data compliance solution, even though ServiceNow is investing an unspecified multimillion euro sum and hiring more than 80 new staff across the bloc.
Mark Cockerill, vice president legal, EMEA and global head of privacy at ServiceNow, said: “With any regulation change, cloud services companies have a choice. They can adopt a ‘wait and see’ approach or get proactive and help customers and partners innovate. At ServiceNow we are on the front foot, continually investing in our customers, allowing them to operate with the highest level of choice and control over their EU data.
ServiceNow upgrade: ‘peace of mind’
“Our new EU-centric service delivery model will give our current customers and partners peace of mind. For customers and partners operating in highly regulated industries, or in the public sector, or those that have yet to make the switch to the cloud, this model gives them certainty and simplicity when selecting the cloud service that best suits their needs.”
Carla Arend, lead analyst, cloud in europe for IDC, said, “The Schrems II ruling has led European organizations to revisit their cloud-related data protection policies and processes when it comes to international data transfers through cloud services.
“Contractual, privacy, and security safeguards and the assurance that data will be kept and handled in the EU help European organizations to comply with European data protection laws while taking advantage of global cloud platforms. Vendors, such as ServiceNow, that invest to support their customers in response to this ruling are providing essential choice to their customers.”