Frank Slootman, CEO of Snowflake, on the day of the company's initial public offering on Sept. 16, 2020.
Snowflake said Wednesday that billionaire CEO Frank Slootman, who joined the cloud software company in 2019 and took it public the following year, is retiring and will be replaced by former Google ad chief Sridhar Ramaswamy.
Slootman, 65, previously led software vendor ServiceNow into the public markets and before that led Data Domain.
Operating losses for the fourth quarter were $275.5 million, up from $239.8 million during the fourth quarter of the previous year.
As of Feb. 9, Slootman owned 10.6 million Snowflake shares, according to a regulatory filing.
Persons:
Frank Slootman, Snowflake, Sridhar Ramaswamy, Slootman, Ramaswamy, Sridhar, Bob Muglia, Muglia, — CNBC's Jennifer Elias, Jordan Novet
Organizations:
Google, Data, New York Stock Exchange, Microsoft
Locations:
Snowflake, Neeva, Wednesday's