Adam Selipski, CEO of Amazoncloud computing business will step down from the role next month, the company announced Tuesday.

Matt Garman, senior vice president of sales and marketing at Amazon Web Services, will succeed Selipski when he leaves the company on June 3, Amazon said.

In a memo to employees, Selipski said he was leaving AWS after about 14 years to spend more time with his family and said “the future is bright” for the cloud giant.

“Given the state of the business and the management team, now is a good time for me to make this transition and take the opportunity to spend more time with my family for a while, recharge a bit and create some mental headspace to consider and consider the possibilities,” Selipski writes.

Amazon CEO Andy Jassy wrote in a separate note that Selipski has “capablely led the business” and said Garman, an 18-year veteran of the company, has “an unusually strong skill set and experience for his new role.”

In 2021, after Amazon announced that Jassy would take over from Jeff Bezos as CEO of Amazon, many people speculated that it would be Garman who would replace Jassy as the head of AWS. Instead, Amazon used Selipsky, then CEO of Salesforceproprietary data visualization software maker Tableau, for the role.

During Selipski’s three years as CEO, AWS faced numerous challenges with its business, including a significant slowdown in revenue growth as rising interest rates prompted companies to reduce their cloud spending. Since last year, AWS has undergone at least two rounds of layoffs as part of larger layoffs at the company that have resulted in the layoff of more than 27,000 employees. At the same time, it had to respond to a surge in demand for generative artificial intelligence services, driven largely by Microsoft-OpenAI supported.

AWS is still the cloud leader and remains one of Amazon’s most profitable business units. It generated $9.42 billion in operating income, or about 62% of Amazon’s total revenue last quarter.

This is breaking news. Please check back for updates.