Frank Slootman, CEO of Snowflake, on the day of its 2020 IPO, Sept. 16th, 2020.
CNBC
Snowflake said Wednesday that CEO Frank Slootman is retiring, and will be replaced by Google ad chief Sridhar Ramaswamy. The shares plunged 20% in extended trading.
Ramaswamy spent 15 years at Google, most recently leading Ads and Commerce until 2018. He then left to co-found Neeva in 2019, a consumer search engine he hoped to rival Google until last year, when he announced he was shutting it down.
Snowflake acquired Neeva in June for an undisclosed price.
This is breaking news. Please check back for updates.