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Ceo Retirement

All articles tagged with #ceo retirement

businesstechnology1 year ago•3 min saved

"Snowflake CEO's Unexpected Departure Sends Stock Plunging"

Snowflake CEO Frank Slootman's retirement led to an 18% stock plunge, but he's not concerned about an employee exodus, emphasizing that the company is not a personal cult. Former Google ad chief Sridhar Ramaswamy is succeeding Slootman, who led Snowflake through its IPO and owns a $2 billion stake. Slootman, who also led ServiceNow to success, remains as chairman and believes Snowflake is in a good place with Ramaswamy at the helm, despite concerns from analysts.

via CNBC|

#businesstechnology #ceo-retirement #frank-slootman

business1 year ago•2 min saved

Snowflake Stock Plunges 20% as CEO Frank Slootman Retires

Snowflake's shares plummeted 20% following the announcement of CEO Frank Slootman's retirement and the release of weaker-than-expected earnings and first-quarter guidance. The company's fourth-quarter results and lower-than-anticipated first-quarter outlook led to Morgan Stanley downgrading its stock rating, while analysts at Macquarie Equity Research upgraded the stock, citing confidence in the new CEO, Sridhar Ramaswamy, and the company's emphasis on AI/ML. Ramaswamy, a former Google executive, will replace Slootman, who will remain chairman of the board.

via CNBC|

#business #ceo-retirement #earnings

business2 years ago•1 min saved

"Crown Castle CEO Retirement Signals Victory for Activist Investor Elliott"

Crown Castle CEO Jay Brown is retiring, coinciding with activist fund Elliott Management's call for a new chief executive as part of its campaign for improved governance and fiber strategy at the cell tower company. Anthony Melone, a Crown Castle board member, will serve as interim CEO while the board searches for a permanent successor. Elliott, which controls a $2 billion stake in Crown Castle, is also seeking bylaw changes and a review of the company's fiber business, potentially including a sale. Crown Castle, one of the largest communications infrastructure providers in the US, has seen its stock decline over 40% from its 2021 high.

via CNBC|

#activist-investor #business #ceo-retirement

business2 years ago•4 min saved

Pioneer Natural Resources CEO to Retire and Be Replaced by COO

Scott Sheffield, CEO of Pioneer Natural Resources, will retire at the end of the year and be replaced by COO Rich Dealy. The announcement comes amid speculation that Exxon Mobil has been in early-stage talks to buy Pioneer. Sheffield, who has been at the helm of Pioneer for over 20 years, cut his teeth in the Permian Basin and was instrumental in the company's growth. He is also an outspoken advocate for the US shale sector.

via Yahoo Finance|

#business #ceo-retirement #coo-replacement