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Snowflake CEO Frank Slootman stepping down — and Wall St hates it
Snowflake chief executive Frank Slootman announced he was stepping down today and Wall Street reacted poorly with the stock price plunging.
Apparently Frank Slootman, the veteran tech executive, was popular with investors, at least judging from their reaction that he will be stepping down as CEO of Snowflake. Slootman will retreat into the role of chairman of the board, while Sridhar Ramaswamy, former head of Google Ads, who came to the company when it bought AI search engine Neeva l ast year, will take over as chief executive. In fact, Fortune reported that the chief executive was making an eye popping $95 million a month at one point.
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