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Frank Slootman

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businesstechnology1 year ago

"Snowflake CEO Frank Slootman Steps Down, Stock Plummets 20%"

Frank Slootman, likened to Elon Musk for his confrontational leadership style, steps down as CEO of Snowflake, remaining as chairman, with Sridhar Ramaswamy taking over. Slootman, known for his hard-charging approach, led Snowflake through a successful IPO and attracted investment from Warren Buffett's Berkshire Hathaway. Despite controversy over his views on diversity and employee activism, Snowflake's revenue grew significantly under his leadership. The company's shares dropped 18% following the announcement, but the new CEO will inherit a strong foundation.

via Fortune|
#businesstechnology#ceo#frank-slootman
businesstechnology1 year ago

"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
businesstechnology1 year ago

"Snowflake CEO Frank Slootman's Surprise Resignation Sends Stock Plunging"

Frank Slootman, CEO of Snowflake, has resigned, causing a 20% drop in stock value. His successor, Sridhar Ramaswamy, brings AI expertise to the table. Snowflake aims to capitalize on the AI market, despite declining net revenue retention rate. Investors are advised to monitor the company's progress post-Slootman before considering investment.

via Yahoo Finance|
#artificial-intelligence#businesstechnology#ceo
businesstech1 year ago

"Snowflake CEO Frank Slootman Retires, Stock Plunges Amid Weak Sales Outlook"

Snowflake Inc. CEO Frank Slootman is stepping down from his role after delivering a disappointing sales forecast, causing the company's stock to tumble. Senior vice president of AI, Sridhar Ramaswamy, will take over as CEO, with a focus on AI strategy. Despite the weak forecast, Snowflake's fiscal fourth-quarter results were stronger than anticipated, with product revenue increasing 33% to $738.1 million. Slootman will remain as board chairman, while Ramaswamy is set to receive about $100 million in stock awards over the next five years.

via Yahoo Finance|
#ai#businesstech#ceo
businesstech1 year ago

"Snowflake CEO's Departure Sends Stock Plummeting"

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.

via TechCrunch|
#businesstech#ceo#frank-slootman
business1 year ago

Snowflake CEO Frank Slootman Retires, Stock Plunges

Snowflake CEO Frank Slootman is retiring and will be replaced by former Google ad chief Sridhar Ramaswamy, causing the company's stock to plunge more than 20% in extended trading. Slootman, who led Snowflake to the largest software IPO ever, will remain chairman of the board. Ramaswamy, known for his tenure at Google, will lead the company into its next phase of growth. Snowflake also released fourth-quarter financial results, with sales increasing 32% year-over-year, but its first-quarter projections fell short of analyst expectations.

via CNBC|
#business#ceo#frank-slootman