Snowflake says Frank Slootman is retiring as CEO, stock plunges more than 20%
Publishing timestamp: 2024-02-28 21:25:52
Summary
Snowflake CEO Frank Slootman is retiring, to be replaced by former Google ad chief Sridhar Ramaswamy. Snowflake's product revenue in the first quarter will be lower than expected, causing shares to plunge 24% in extended trading. Ramaswamy is seen as the right person to lead Snowflake into the next phase of growth.
Sentiment: MIXED
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