"Snowflake CEO's Departure Sends Stock Plummeting"
TL;DR Summary
Snowflake CEO Frank Slootman is stepping down, causing the company's stock price to plunge more than 20% in after-hours trading. Sridhar Ramaswamy, former head of Google Ads, will take over as chief executive. Despite the executive shuffle, the company reported strong earnings, with revenue of $738 million, up 33% year over year. Slootman, who took over in 2019, was well-compensated and controversial, and his departure has sparked negative reactions from investors.
- Snowflake CEO Frank Slootman stepping down — and Wall St hates it TechCrunch
- Snowflake says Frank Slootman is retiring as CEO, stock plunges more than 20% CNBC
- Tech Earnings: Salesforce, C3.ai, Snowflake, and Others Report Today Barron's
- Snowflake Shares Plunge On Weak Sales Outlook Amid CEO Change Investor's Business Daily
- Snowflake’s stock plunges after earnings, with CEO switch a ‘massive surprise’ MarketWatch
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