Analysts say it continues to beat Amazon and the tech giants products head-to-head; as Snowflake gets bigger, it can negotiate better rates, too, driving down its operating costs. Stay up to date with what you want to know. Kate Bullinger, who advises CEOs and companies on corporate culture at Weber Shandwick's United Minds consultancy, told Insider that a CEO dismissing or ignoring social issues could harm the company's ability to attract and retain talent. In 2014, after two years under the radar focusing on shipping the software, Speiser tapped Muglia to replace him as CEO. Chief Human Resources Officer. Concerned about Snowflakes appetite for capital, Speiser approached Slootman, whom he knew through the board of another investment, Pure Storage, to see if he could tempt him to join the companys board. Key Learnings from: Narrow the Focus, Increase the Quality. Each member maintained a grueling schedule of three hours on deck followed by three hours of sleep, 24 hours a day. Slootmans my-way-or-the-highway attitude caused a stir when he arrived at Snowflake on April 26, 2019, hours after cofounders Benoit Dageville and Thierry Cruanes informed well-liked CEO Bob Muglia, a Microsoft veteran, that his services were no longer required. Slootman sold his seven-figure boat to a Chicago couple in 2019 to focus on what would end up being his biggest win of all: taking over as CEO of Snowflake, a seven-year-old cloud-based data-warehousing company, which had until then been led by ex-Microsoft exec Bob Muglia. He has more than 15 years of management and leadership experience. Slootman, 62, took over a nondescript conference room on the second floor of Snowflake's Dublin, California, office, embarking on a series of meetings that now rank with Mark Zuckerberg's . Seventeen months later, he took Snowflake public in one of the biggest tech IPOs of 2020, raising $3.4 billion at a $33.3 billion valuation. To his relief, Begun told him a few weeks later that the new CEO valued his hustle and loyalty to the product. "You know, you're not going far enough, you're not going hard enough, you're not going fast enough. This story appears in the March 31, 2021 issue of Forbes Magazine. Wikitia is not affiliated to Wikimedia Foundation. Thierry is a leading expert in query optimization and parallel execution. See Bio. Investor Sequoia wanted an executive with more experience building a sales team to target the worlds biggest corporations. He also co-founded Epinions.com, worked as a consultant at McKinsey & Company, and was an analyst with CS First Boston. Having built ServiceNow to a market cap of $14 billion by 2017 (its valued at seven times that today), Slootman was focused on bringing back professional yacht racing to California and running a conservation and animal welfare foundation from his Montana ranch. Most people have no clue what really goes on in board rooms. Snowflake, while not yet generating $1 billion in annual revenue, leaped into the Cloud Wars Top 10 several months ago and . Senada Greca Wiki: Age, Birthday, Husband, Net Worth, Height, Ethnicity, Boyfriend, Biography, Fatima Goss Graves Bio Wikipedia: Husband, Age, Net Worth, Instagram, Children, Birthday. "They don't need me to have bathrooms with all kinds of unintelligible signs on it for what bathroom you're supposed to use," Slootman said. Kramer holds a bachelor of science degree in mathematics from Purdue University and received the Purdue University College of Science Distinguished Alumni award in 2017. I have empathy with a lot of quarterbacks who dont know to retire, he says. Mike Scarpelli. In a December talk with Foundation Capital, Slootman said he had had "zero plans" to take on another CEO job. Chairman and Chief Executive Officer. Snowflake was founded in August 2012 by Dageville and Cruanes, two French-born database experts from Oracle, and was backed by Sutter Hill, whose venture capitalist Mike Speiser served as its first CEO. Some of Wikitia's pages are sourced from Wikipedia.org's Mainspace and Draftspace. "You're in a battle, and the battle doesn't end until you finish that race," Gabriel said. Teresa has been a stabilizing force in the C-suite and boardroom of influential companies across the technology, retail, consumer products, and healthcare industries. that upside with me at the helm. My eyes are on the horizon., Covering venture capital, cloud and startups. Frank Slootman Net Worth, Wiki, Bio, Family, Age, Wife We may never exactly know why the investors of Snowflake unceremoniously dumped its chairman and CEO Bob Muglia, just a few months after a $450m funding round that valued the cloud data warehouse startup at $3.5bn. Staffers started frantically Googling their new boss. Who is Snowflake CEO Frank Slootman? | The US Sun The seven-day competition, the Transpacific Yacht Race, was a test of both mental and physical stamina, in which he navigated his boat with a 10-person crew while cold, wet, and sleep-deprived. "They love to just do a victory lap. Mr. Slootman is a billionaire businessman who was born on 3 rd October 1958 in Holland. Slootman's long-time right-hand man, Michael Scarpelli, who had worked with Slootman at both ServiceNow and Data Domain, took over the chief financial officer job from Tuchscherer. Similar is the scenario with his married life. The thing I liked about sailing was that if you make a mistake, its obvious within minutes.. with a proven track record to grow companies even more quickly and take to IPO. After that it was board membership; Pure Storage, Medallia and Elementum SCM,and more VC investing with his own Invisible Hand Ventures. The job of the board is to hire and fire the CEO. Jeremy also served as Veritas Executive Vice President of Data Management Group and Chief Marketing Officer. Experience obviously With Scarpelli's help, Slootman started cutting costs. Blocks & Files: Do you believe it best or necessary for yourself that the chairman and CEO roles be combined? Under his tenure, Snowflakes customer count grew from 80 in June 2015 to more than 1000 in January 2018. Otherwise, Im going to go ahead and run the company.. We're getting a no-nonsense guy who quotes Patton.'". Was it purely the job with Burroughs or was there something else? CTRL + SPACE for auto-complete. The Snowflake board member Mike Speiser, who invested in the company through his firm Sutter Hill and served as its first CEO, reached out to Slootman regarding a Snowflake board position, Speiser told Forbes. "He would always crash my executive briefings," Wyss said. However, at the age of 26, Frank moved to the USA in 1984 to work for Burroughs. I exercise executive prerogative, he adds. from the U.S. Military Academy at West Point and a J.D. In Amp It Up: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity, he shares his . Chief Financial Officer. If Im doing a bad job, you should go ahead and fire me. I learned from that experience that I dont want to be in an elevator thats going down, he says. sales barrier in less than seven years, adding more than one thousand employees In 2011, after the founder of ServiceNow Fred Luddy stepped down, ServiceNow announced appointment of Frank Slootman as CEO. Five lessons in leadership from Snowflake CEO, Frank Slootman. comes to mind first, I have learned lessons from Amazon just observing from But certainly I did it, says Muglia, noting that overall spending at Snowflake increased after he left. Prior to working for Snowflake, Frank took the CEO spot at ServiceNow when it had less than $100 million in revenues and took it to $1.4 billion. degree from UC Hastings College of the Law. She is a frequent speaker on topics including corporate board diversity, sponsorship and inclusion, and was a Stanford Entrepreneurial Thought Leaders speaker. re-enter the workforce. "We all saw the LinkedIn and were like, 'OK, we know what we're getting into now. Before Oracle, he spent seven years at the IBM European Center of Applied Mathematics working on data mining technologies. Also, I helped the company move its software to non-mainframe platforms that started to emerge on UNIX in the late 80s. Benoit is a leading expert in parallel execution and self-tuning database systems. And Frank got tired of it. He played a critical role in transforming BladeLogic from a startup, to a public company, to the firms $880 million acquisition by BMC Software. The appearances do not bother me. To make the company more Wall Street ready, Snowflake started working with its bigger customers to show them where they were wasting money running needless reports. A CEO must lead a board, period. The assignment itself was another challenge: Compuware was bleeding employees to Silicon Valleys emerging powers. I also did not like SaaS that much as a business model, Wyss said. As President and CEO of Arista for over a decade, Jayshree Ullal is responsible for Aristas business and thought leadership in cloud networking. Every other CEO of a company's making statements about how they support diversity, but you're not doing anything.'". 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Presents at Goldman Sachs Communacopia + Technology Conference 2022, Sep-14-2022 03:45 PM. In 1982, after a number of rejections from Big Blue, he crawled ashore with $100 in my pocket (a phrase he repeats so often his employees know it by heart) in South Bend, Indiana, with a job as an intern in the seemingly dead-end fake-leather industry. That lasted until April this year when he stepped into the chairman and CEO role at Snowflake. In July 2017, two years before he took over as the chief executive of Snowflake, Frank Slootman raced 2,225 miles across the Pacific Ocean, from the California coast to the Hawaiian island of Oahu . Denise also helped lead Genesys through its expansion to become a successful IPO and acquired company. Slootman told CNBC in October that he had no time for Silicon Valley's "lattes and neck rubs" culture. Prior to ServiceNow, Derk was an attorney at Wilson Sonsini Goodrich & Rosati, where he gained broad experience across the firms primary corporate practice areas, including start-up representation, venture financings, capital markets transactions, public company reporting, and mergers and acquisitions. Benoit has a PhD in Computer Science with a focus in Parallel Database Systems and is a named inventor on more than 100 patents.