Amazon Web Services (AWS), the cloud computing giant, is set to undergo a leadership change as Adam Selipsky, its current CEO, announced his departure effective next month. Selipsky cited a desire to spend more time with family and recharge as the reason for his exit.

Matt Garman, the current senior vice president of sales and marketing at AWS, will succeed Selipsky as the new CEO. Garman brings a wealth of experience and skills to the role, having played a crucial part in AWS's growth and success.

Andy Jassy, the CEO of (link unavailable) Inc, expressed confidence in Garman's abilities, highlighting his "unusually strong set of skills and experiences." Jassy also thanked Selipsky for his leadership and contributions to AWS's growth during his tenure.

The news comes on the heels of AWS reporting a 17% annualized growth in Q1, reaching $25 billion. Analysts had predicted $24.5 billion, making this a significant achievement. With Garman at the helm, AWS is poised for continued success and growth, with some analysts predicting a bright future for the company.

Amazon's stock has seen a significant surge this year, up over 20% since the start of 2024. With this leadership change, investors will be watching closely to see how AWS continues to innovate and expand its cloud computing services.