Public financial data from NASDAQ

AWS CEO Adam Selipsky to Step Down, Matt Garman Named Successor Effective June 3

May 14, 2024, 02:10 PM

Amazon Web Services (AWS) CEO Adam Selipsky is stepping down, as confirmed by an internal email from Amazon CEO Andy Jassy. Selipsky, who has led AWS for three years, stated he is leaving to spend more time with his family. Matt Garman, a longtime Amazon executive and the current head of sales and marketing at AWS, will succeed Selipsky as CEO effective June 3. Garman has been with Amazon for 17 years and was one of the first product managers of AWS. This leadership change comes as AWS, a key profit center for Amazon with a $100 billion annual run rate, faces increased competition in the cloud computing market. Following the announcement, Amazon's stock experienced a dip.