Snowflake Stock Plunges as CEO Unexpectedly Steps Down, Surprising Transition to Little-Known Successor
- Stocks waver after inflation gauge meets expectations
- Snowflake CEO Frank Slootman unexpectedly stepping down
- Incoming CEO is Sridhar Ramaswamy, not widely known
- Transition not properly signaled, surprising investors
- Snowflake stock plunges over 23% on surprise leadership change