E-commerce giant Amazon (AMZN) is losing a senior executive in its cloud computing unit.
Dave Brown, senior vice president of Amazon Web Services (AWS), the cloud group, is departing the technology giant after 19 years. Brown is also a member of the high level S-team, the internal group at Amazon that advises CEO Andy Jassy.
Amazon Web Services CEO Matt Garman announced the departure of Brown in an internal memo that has been leaked to the media. Brown is said to be leaving Amazon for a position at another company. However, Garman did not say which company Brown is joining. Most recently, Brown led compute and machine learning services within the Amazon Web Services department.
Shuffling Executives at Amazon
Dave Treadwell, who is currently senior vice president of ecommerce at Amazon, will replace Brown starting August 1. Treadwell is also a member of the S-team, known as the senior leadership team at Amazon. Membership on the S-team is considered a badge of honor within the company, according to media reports.
The executive changes comes as Amazon remains focused on building out its AI infrastructure and compute power. The company has announced capital expenditures of $200 billion this year, with most of that spending going towards AI data centers and models. Amazon recently announced plans to raise $25 billion through a corporate bond sale.
Is AMZN Stock a Buy?
Amazon’s stock has a consensus Strong Buy rating among 46 Wall Street analysts. That rating is based on 45 Buy and one Hold recommendations issued in the last three months. The average AMZN price target of $318.21 implies 20% upside from current levels.
