AMZN Stock Rallies Over 3% — Amazon Reshuffles AWS Leadership As Veteran Dave Brown Exits, Dave Treadwell Takes Over

• Dave Brown is leaving the company after nearly 19 years to take a role outside Amazon.
• Dave Treadwell, currently Senior Vice President of eCommerce Foundation, will assume leadership of AWS Compute and ML Services.
• Stocktwits retail sentiment on AMZN improved to ‘bullish’ from ‘neutral,’ with traders eyeing the July 30 earnings report, including calls for a potential move toward $300.

Amazon.com Inc.’s (AMZN) cloud computing business, Amazon Web Services (AWS), is undergoing a leadership transition. In a message to employees on Wednesday, AWS CEO Matt Garman said longtime executive Dave Brown is departing the company.

Shares of AMZN climbed nearly 3.5% on Wednesday. At the time of writing on Wednesday afternoon, the AMZN stock pared some of the early gains and was trading around 3% higher

Dave Brown To Leave After 19 Years

Garman said in his message to employees that Brown, who has spent nearly 19 years at AWS, is taking “a new role outside of the company.” Garman said that Brown had been “a strong leader, builder, innovator, and friend” throughout his career at AWS, which began in Cape Town and ended in Seattle.

Brown will remain at AWS through the end of July to help ensure a smooth handover and work alongside his successor during the transition.

Dave Treadwell To Lead AWS Compute And ML Services

Effective August 1, Dave Treadwell, currently Senior Vice President of eCommerce Foundation, will take over leadership of the AWS Compute and ML Services team.

Highlighting Treadwell’s credentials, Garman said he has spent nearly a decade running Amazon’s technology platform and has “deep expertise in running technology at the same scale we do.” He also expressed optimism about Treadwell bringing a sense of innovation to his new role.

AMZN Stock: Stocktwits Retail Sentiment

On Stocktwits, retail sentiment for AMZN improved to ‘bullish’ from ‘neutral’ in the last 24 hours, while message volume was ‘low.’

Retail traders on Stocktwits are also looking ahead to Amazon’s earnings on July 30.

One retail trader said the company’s size and profitability could help drive the stock to $300 following the earnings report.

Another retail trader said that Amazon’s 50-day moving average at $254.25 could serve as the stock’s next “target before earnings,” adding there is a good chance it reaches that level by Friday.

The AMZN stock has risen nearly 10% year-to-date.

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