Snowflake CEO Change: Slootman Steps Down, Google Exec Ramaswamy Steps Up as Stock Drops
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Snowflake CEO Frank Slootman is stepping down and will become chairman of the board.
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Sridhar Ramaswamy, former head of Google Ads, will take over as Snowflake's new CEO.
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Snowflake reported strong Q4 earnings with 33% revenue growth, but its stock still plunged over 20% on the CEO change news.
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Slootman was very well compensated as CEO, at one point making $95 million per month.
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Slootman previously drew criticism for comments about diversity not overriding merit.