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Sridhar Ramaswamy

All articles tagged with #sridhar ramaswamy

businesstechnology1 year ago•5 min saved

"Snowflake's New CEO Banks on AI and Nvidia Partnership Amid $30B Market Dip"

Snowflake's new CEO, Sridhar Ramaswamy, is steering the company towards becoming an "AI Data Cloud," emphasizing the integration of AI into its data services. Despite a significant drop in market value and challenges following the departure of former CEO Frank Slootman, Ramaswamy is leveraging partnerships, notably with Nvidia, to enhance AI capabilities. The company aims to transform how businesses manage and utilize data, betting on AI to drive future growth and customer value.

via Fortune|

#ai #businesstechnology #data-cloud

business1 year ago•3 min saved

"Snowflake CEO's Departure Sparks Stock Selloff and AI Hype Reevaluation"

Frank Slootman, who recently stepped down as CEO of Snowflake Inc., has amassed a net worth of about $3.7 billion, surpassing tech leaders like Tim Cook and Satya Nadella. His departure alongside an underwhelming sales outlook caused Snowflake stock to plummet 18%, marking its worst day ever. Slootman, known for his tough leadership style, has sold shares at an average weighted price of about $268 over the last four years. His replacement, Sridhar Ramaswamy, a former executive at Google, is set to receive about $100 million in stock awards over the next five years in addition to a $750,000 annual salary.

via Yahoo Finance|

#business #ceo #net-worth

businesstechnology1 year ago•3 min saved

"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•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

businesstech1 year ago•1 min saved

"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•2 min saved

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