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Amazon’s New CEO Awarded $200 Million in Stock Over Next Decade

Anazon .com Inc.will give incoming Chief Executive Officer Andy Jassy 61,000 shares of stock — currently valued at more than $214 million — that will vest over the next 10 years, the online retailer disclosed Friday in a regulatory filing.

Jassy, 53, is scheduled Monday to take the helm at the company from founder Jeff Bezos, the world’s wealthiest man, who will remain as Amazon’s executive chairman. Jassy was hired at Amazon in 1997 and quickly caught the eye of Bezos as a promising star. He previously ran the company’s profitable cloud-computing business Amazon WebServices.

Source: Bloomberg