Sean Boyle, CFO of multi-billion dollar cloud-computing business Amazon Web Services (AWS) since 2015, has "moved to another role within AWS," a spokesperson confirmed to Business Insider Tuesday. Boyle has been with Amazon for 13 years and previously served as CFO of software company, Apptio.
Luis Visoso, who has headed finance for Amazon's global consumer segment since 2018, has stepped in as CFO. Before joining Amazon in 2018, Visoso was senior vice president of business, technology and financial operations at Cisco Systems, before which he spent 23 years at Procter & Gamble.
Amazon declined to comment on the reason for Boyle’s move, or whether Visoso’s prior role will be filled by another employee.
The incoming AWS CFO will have his work cut out for him as Amazon faces antitrust scrutiny. Business Insider reported the Federal Trade Commission is looking into whether Amazon uses its dominant market presence to stymie competition.
CIO Dive reported in July that AWS is the "de facto champion" of cloud computing, accounting for 47.8% of the 2018 infrastructure as a service (IaaS) public cloud services market share, more than three times the market share of Microsoft, its closest competitor.
AWS is far and away Amazon's most profitable business. In 2018, it served one million customers and released 1,957 bespoke services and features. It also brought in $25.7 billion in net sales, up 47% year-over-year from $17.5 billion in 2017, CIO Dive reported.
Per estimations from research firm Morningstar, AWS is worth more than $550 billion, which is more than 50% of Amazon's market cap, Business Insider reported. This puts Visoso in the driver’s seat of the most financially crucial subsidiary of the Amazon empire.
While technically under Amazon CEO Jeff Bezos’ leadership, AWS operations are headed on a day-to-day basis by its own leadership team, CEO Andy Jassy and new CFO Visoso.
Representatives for AWS did not immediately respond to requests for comment.