Snowflake says Frank Slootman is retiring as CEO, stock plunges more than 20%

(CNBC) Snowflake said on 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. Shares of Snowflake plunged 24% in extended trading.

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