When Amazon.com, Inc. (NASDAQ:AMZN) released its fourth-quarter earnings on Tuesday, it had another big announcement: Jeff Bezos would be stepping down as CEO, moving to the role of executive chair in the third quarter of 2021.

What To Know: Jassy, a native of New York, is not new to Amazon. When he began his career with the company in 1997, one of his roles was marketing manager. He founded AWS in 2003, and in 2016, was promoted from senior vice president to CEO.

Prior to joining Amazon in 1997, Jassy attended Harvard College, graduating with honors. Jassy spent five years working for MBI, a consumer products company, as a project manager before returning to Harvard to attend business school, earning an MBA. He took his final exam on a Friday in May 1997, then started work at Amazon the following Monday, according to a podcast obtained by Reuters.

What's Next: With Jassy's background as the founder and CEO of AWS, it signals Amazon’s shift to focusing on cloud computing. In Amazon’s earnings report, AWS showed to be the driving force for Amazon’s overall profit with 52% of the company's revenue coming from AWS.