Some spoke on condition of anonymity, but nearly all described a militant CEO who's part of Silicon Valley's less talked-about conservative wing, a group that includes Palantir's Peter Thiel, Tesla's Elon Musk, and Oculus' Palmer Luckey. See Bio. Two years after Slootman came aboard as the CEO of ServiceNow, in 2011, he moved its headquarters to Santa Clara, in Silicon Valley. Chief revenue officer Chris Degnan figured his lack of experience in such a structured sales organization would be enough for Slootman to show him the door. As ServiceNow's CEO, Slootman established a hard-driving culture embodied by pictures of race cars in the hallways of the office but he knew how to charm the customers, according to Wyss, the former director of product strategy. In 2011, Slootman joined ServiceNow as its CEO. By 1998 Slootman was running Compuwares California office amid the dot-com boom. It also changes over time. Frank Slootman, CEO of Snowflake, on the day of its 2020 IPO, Sept. 16th, 2020. Forthright Slootman was brought into the world on October 3, 1958, and is 61 years of age as of September 2020. I exercise executive prerogative, he adds. But certainly I did it, says Muglia, noting that overall spending at Snowflake increased after he left. From what we have known, Frank Slootman is married to his wife Brenda Lynne Slootman. When Slootman attended all-hands meetings, he "would drop f-bombs and s-bombs," the executive said. Todd Johnson/San Francisco Business Times, Christie Hemm Klok/The Forbes Collection via Contour RA, NOW WATCH: Companies ignoring climate change will be on the 'wrong side of history,' says World Economic Forum executive chairman. When Covid-19 hit, Snowflake was prepared, having just raised $479 million from investors, including Salesforce, in early February. His conservative peers are some of the more controversial execs in Silicon Valley, like Palmer Luckey, who was ousted from Facebook after financing an anti-Hillary Clinton meme group, and Tesla founder Elon Musk, whose SpaceX political-action committee donated $119,000 to lawmakers who voted against Joe Biden's Electoral College victory. Prior to founding Snowflake, Benoit was with Oracle for over 10 years as a lead architect for parallel execution in Oracle RAC and a key architect in the SQL Manageability group. Stay up to date with what you want to know. From January 2015 to December 2020, Kelly Kramer was Executive Vice President and Chief Financial Officer (CFO) at Cisco, managing financial strategy, and overseeing all financial functions, corporate development, mergers, acquisitions, integrations and investor relations for the company with total revenue for fiscal year 2020 of $ 49.3 billion and more than 77,000 employees. He retired from Adobe in April 2018. Of the virtual IPO he says, I absolutely loved it.. ", Slootman said he left ServiceNow in 2017 because "they started caring about things that I had no interest in.". come along often. Prior to that, Frank served as President of the Backup Recovery Systems Division at EMC following an acquisition of Data Domain Corporation/Data Domain, Inc., where he served as the Chief Executive Officer and President, leading the company through an IPO to its acquisition by EMC for $2.4B. Slootman returned to executive responsibilities in April 2011, taking the chairman and CEO roles at the cloud service company ServiceNow. Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company. The simplest explanation is that investors wanted someone president and CEO at Data Domain between June 2003 and July 2009. You constantly live with that terminal fear of not doing enough.". She is a recipient of the SFSU and SCU Distinguished Alumni Awards in 2013 and 2016. 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. Given her Audit and M&A Partner experience and extensive boardroom experience, she qualifies as a financial expert and is well-equipped for board and Audit Committee service. Under his tenure, Snowflakes customer count grew from 80 in June 2015 to more than 1000 in January 2018. Wyss said. Just a month later, Snowflake under Slootman had shifted to become a performance-based business. Frank Slootman Bio: Early Life. Adds Srini Nandury of Summit Insights Group, who has a rare sell rating on Snowflake: Theyve clearly shown they can execute, but I cant justify this valuation by any means. Benoit Dageville co-founded Snowflake and currently serves as President of the Product division. In 2016, Slootman donated $250 to Ryan Zinke, the Interior secretary of President Donald Trump who stepped down in 2018 while he was the subject of several ethics investigations. Mar 11, 2021, 11:30 ET. Frank Slootman Net Worth, Wiki, Bio, Family, Age, Wife / . "He's very much like 'Don't ask me to do things that optically look good or that are PC because that's not Frank,'" he said. As Executive Vice President and CFO, Mark co-led Documentums $1.7 billion sale to EMC. That's not him at all. Previously, Mike was Vice President and Technical Advisor to Symantecs Chairman & CEO. After needing just over $5 million in investment in its first two low-profile years, by early 2018, when Snowflake reached a valuation of $1.8 billion, it had raised almost a half-billion. In 2011, after the founder of ServiceNow Fred Luddy stepped down, ServiceNow announced appointment of Frank Slootman as CEO. I am truly a hybrid Dutch-American. "Frank would never do that. Time will tell, of course. It took on another $450 million, this time at a $4 billion valuation, about nine months later. Published Jul 7, 2022. But . After fighting so hard to become a CEO, Slootman doesnt know how to do anything else. Beyond. The company currently has a market cap of $48 billion. Do you get on with Larry Ellison with regard to sailing? Approximately 80% of the Fortune 500 turn to Deloitte for strategies that create shareholder value. That lasted until April this year when he stepped into the chairman and CEO role at Snowflake. The former sailor runs pre-IPO companies like a tightly rigged high-performance watercraft, a captain with extreme confidence who will throw overboard anyone who shows the mildest mutinous inclination. Chief Financial Officer. Frank Slootman Bio: Early Life. Also, I helped the company move its software to non-mainframe platforms that started to emerge on UNIX in the late 80s. The reason for which he describes as, The energy, buoyancy, and temperament in this country greatly appeal to me. And we're all just like, 'Did Frank just call the customer our homies?' In a December talk with Foundation Capital, Slootman said he had had "zero plans" to take on another CEO job. She would also help a board address key issues including digital transformation, human capital, governance, and M&A. "You're going to always alienate someone whatever you do, whether you're neutral or you take a stance," the former employee said. out that way.. In June, when Snowflake announced it was forming a diversity council, employees were surprised to see that the press release was written by Eve Besant, Snowflake's vice president of worldwide sales engineering. Your email address will not be published. The CEO has plenty of reason to stick around, too, with billions tied up in unvested Snowflake shares. that outcome could be. I could not resist having an opportunity to bring something Greg has a PhD in Computer Science from Cornell University, an MBA from UC Berkeley, and an undergraduate degree from AGH Krakow, Poland. However, at the age of 26, Frank moved to the USA in 1984 to work for Burroughs. Slootman now has a net worth of $1.8 billion, Despite leaving Snowflake in 2018, the IPO spiked Muglia's net worth to, Many other Snowflake employees and investors including Warren Buffett, Sequoia, Iconiq Capital, and Salesforce are set for windfalls as well, per. He helped define the architecture and lead database performance efforts for Bulls parallel systems. I would say, 'We're spending like drunken sailors,' and they would say, 'Yes, keep doing it.' He is still on the boards at Pure and Elementum. I worked on the merger of Burroughs and Sperry which became Unisys. I need to spend the little bit of time I have left over with my family, not sailing. Technology executive Frank Slootman took software company Snowflake public in one of the biggest tech IPOs of 2020, raising $3.4 billion at a $33.3 billion valuation. When executives at a later company, Compuware, realized in 1995 that an acquisition in Amsterdam was going sideways, its young staffer, a native Dutch speaker, was given a chance to clean up the mess. Denise holds a BA in Business Administration and Economics from Stockholm University, and holds an MBA from Georgetown University. Senada Greca Wiki: Age, Birthday, Husband, Net Worth, Height, Ethnicity, Boyfriend, Biography, Fatima Goss Graves Bio Wikipedia: Husband, Age, Net Worth, Instagram, Children, Birthday. It was swift.". Frank explained. The day he took the company public on Nasdaq in 2007, shares jumped 66%; two years later, EMC outbid rival NetApp to acquire the business for $2.4 billion. A Gartner analyst on vacation spotted the executive and crashed the meeting to go full fanboy. Everyone, that is, except Slootman. Just six months in, he had lined up his anchor investors, including Dragoneer Investment Group and Marc Benioffs Salesforce. Slootman likes to say that he doesnt have a formula, even after having pulled off similar magic at both Data Domain and ServiceNow. The board, including Doug Leonean investor on Forbes Midas List and Sequoias coleader at the timetasked Slootman with doing for ServiceNow what he had just done for Data Domain. She led the company to a historic and successful IPO in June 2014 from zero to a multibillion-dollar business. "It was not the kind of environment that I enjoyed participating in," Haldeman said. Stay up to date with what you want to know. concealing modifications he made to another owner's boat. 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. ", "You know, he's this very formal, educated, Dutch, driven, business executive, right?" Key Learnings from: Narrow the Focus, Increase the Quality. Blocks & Files is interested in finding out more about his Chief Human Resources Officer. "My wife's still wondering what the hell happened.". Similar is the scenario with his married life. Thecelebscloset, Jim Jefferies' House And Car Details!Thecelebscloset, Colton Dunns Impressive Net Worth: Insights and Figures Revealed!, How Much is the Grammy-Award Winning Artist Worth?. In 2019, before the company went public, Slootman made more than $60 million in total compensation. Teresa holds a Bachelor of Science degree in Accounting from the University of Arizona Eller College of Management and was named Alumnus of the Year in 2015. Slootman did not respond to requests from Insider for comment. Just as his hero Patton was described as paranoid yet brilliant, Slootman said he lives in constant fear of inferiority. Rather than return to Michigan, he jumped to Borland Software, a database darling of the 1980s by then in dire straits. The former Snowflake executive said Slootman always set the expectations high, and then higher. Experience obviously In 2011, after the founder of ServiceNow Fred Luddy stepped down, ServiceNow announced appointment of Frank Slootman as CEO. Slootman may be one of the highest-paid tech CEOs in the US, but he defies nearly every stereotype in an industry where air-hockey tables fill conference rooms and companies are rushing to hire diversity-and-inclusion executives. They obviously felt they would materialize more of But two sailing associates of Slootman said there was still speculation over whether the tech honcho knowingly greenlighted unapproved upgrades of his own to boost performance. He also served as Vice President of Product Marketing and Product Management at VERITAS Software, which Symantec acquired. The Slootmans also have a ranch in southwestern Montana. In his book Public asset : 162,785,053 USD. It currently boasts a market capitalization of $81 billion on trailing sales of roughly $580 million. afar. He played a critical role in transforming BladeLogic from a startup, to a public company, to the firms $880 million acquisition by BMC Software. "Everybody was out to get him," Gabriel said. See Bio. While Slootman had success before Snowflake, he reached a new stratosphere after the company's IPO, his net worth skyrocketing to an estimated $2.2 billion. She was integral to establishing Deloittes enterprise alliance with Apple, focused on enabling people to work the way they live by digitally transforming companies. During her 20 years with General Electric, she held other CFO roles including CFO of GE Healthcare Biosciences, a division in Life Sciences and Molecular Diagnostics. But this whole Snowflake exercise could have turned out dramatically different, the CEO says, if the founders had pursued their original premise for what the company should be. In April 2019, Snowflake's board of directors announced that its CEO of five years, Bob Muglia, was being replaced. Slootman: Whether TAPE SUCKS: Inside Data Domain, A Silicon Valley Growth Story he wrote: I was CEO of Data Domain, Inc. from the "You know, you're not going far enough, you're not going hard enough, you're not going fast enough. Additionally, from 2005 to her retirement, she led Deloittes global relationship with Apple, which spans a momentous period including the release of the iPhone, iPad, and Apple Watch and saw Apple increase its market capitalization from less than $10B to more than $1T. I also had had enough time off, two years. Jeremy Burton is the Chief Executive Officer of Observe, Inc. "So if it's a company that people aren't really interested in working for, it's going to ultimately have an exodus of key talent.". After an internship in the fake-leather industry in Indiana, Slootman made his first stride into the tech industry in Detroit, where he started working at Burroughs Corp., one of the largest computer makers at the time. Is there competition there? In the mid 80s I tried to hire on out of school with IBM, they were the gold standard back then in the so-called computer industry. 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. "You know, win at all costs and don't mind who gets caught in the crosshairs. Prioritizing the development of raw talent with high upside, Slootman was able to stabilize Compuware. warrants. When I was a younger man, I was more tolerant; I always thought I could coach people to a place where they would be great, Slootman says. Because we think Frank was trying to say some Compton slang or something.". And it was the right thing to do," Muglia recently told Forbes. Slootman: Snowflake From 2017-2019, he was Vice President, Legal at ServiceNow, where he was responsible for corporate, securities, and M&A. and six thousand enterprise customers worldwide. behave as if I am the chairman. We're not into that. "We all saw the LinkedIn and were like, 'OK, we know what we're getting into now. Publisher (s): Wiley. At ServiceNow and also at Snowflake you replaced previous CEOs who had already built the companies to substantial sizes. "If you tell most people that, they'll be like, 'Wow, that sounds like an amazing company. ", The post raised collective eyebrows at Snowflake, former employees said. By Labor Day, it had become clear that Frank Slootmans third initial public offering would not be like the other two. Otherwise, Im going to go ahead and run the company.. O'Reilly members get unlimited access to books, live events, courses curated by job role, and more from O'Reilly and nearly 200 top publishers. Slootman, 62, took over a nondescript conference room on the second floor of Snowflakes Dublin, California, office, embarking on a series of meetings that now rank with Mark Zuckerbergs Harvard dorm coding sessions in terms of value per hour. Under his sales leadership, Snowflake has grown its annual product revenue from $0 to over $1 billion. And while some warn of a backlash, for Slootman, who has compared himself to World War II Gen. George S. Patton, his main concern is winning. "For many, this is very attractive," Slootman said of San Diego's laid-backness. Derk Lupinek serves as General Counsel of Snowflake. 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. You can look at my private companies and see how that turned out, he says. "That was kind of awesome. After successfully building out its Java development and testing business, Slootman received his first CEO job offer in 2003, when investors in a data-storage startup tapped him for another rescue. Snowflake Inc. Snowflake Inc. is a cloud computing -based data cloud company based in Bozeman, Montana. 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, on Invisible Hand, his sleek 52-foot sailboat made from carbon fiber and 3D-printed titanium. Benoit co-founded Snowflake and currently serves as President of the Product division. Why do you, as it appears, prefer that? Frank Slootman currently serves as Chairman and CEO at Snowflake. Its [always] been too late. "He was very focused on winning the races, and he won pretty much everything," Robbie Murphree-Gabriel, the former logistics manager of Slootman's sailing operation, said. I never worked in Holland, but was born, raised and educated there. Prior to Observe, Jeremy was Executive Vice President, Marketing & Corporate Development of Dell Technologies, and served in various leadership roles at EMC prior to Dell. Talking about his decision to come to the states, Frank expressed in an interview; how he had never worked in the country where he was born. I dont like there to be too "Don't go to him for the touchy-feely feelings and advice. He barely slept, said Ruben Gabriel, one of the crew. 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. "CEOs can sometimes suffer from a kind of weakness where they want to be liked," Asheem Chandna, a software investor at Greylock and a friend of Slootman, told Insider. Generali's No.3 investor Caltagirone withholds backing for 2022 accounts -sources, Musk says Tesla likely to launch full self-drive technology 'this year', Exclusive: JPMorgan employees gripe about Dimon's return-to-office edict, SpaceX rocket explosion illustrates Elon Musk's 'successful failure' formula, Cucinelli posts 33% rise in Q1 sales, confirms 2023 revenue growth forecast, Exclusive-Peter Thiel, Republican megadonor, won't fund candidates in 2024 - sources, Virginia Governor Youngkin 'humbled' by talk of possible presidential run, European Midday Briefing: Mood Brighter After -2-, Tim Cook unveils new Apple store in India, Morgan Stanley's dealmaking CEO Gorman signals more transactions to come, Snowflake Inc. : Snowflake Inc : Caution is advised, Transcript : Snowflake Inc., Q4 2023 Earnings Call, Mar 01, 2023, Snowflake's Revenue Growth to Slow in Fourth Quarter, Next Year Amid 'Weakening' Economy, Transcript : Snowflake Inc., Q3 2023 Earnings Call, Nov 30, 2022, Transcript : HashiCorp, Inc. - Analyst/Investor Day, Transcript : Datadog, Inc. Presents at Goldman Sachs Communacopia + Technology Conference 2022, Sep-14-2022 03:45 PM. Better modeling and the focus shift to larger accounts also made it easier to guess how users might expand or contract. He talked about several new and exciting trends, including Snowflake's increased focus on vertical industries, new ways that customers and partners will be able . [2] [3] The firm offers a cloud-based data storage and analytics service, generally termed "data-as-a-service". Frank Slootman is currently a married man. He owns 5.9% of Snowflake. Biography of Frank Slootman : Presently, Frank Slootman is Chairman & Chief Executive Officer of Snowflake, Inc. Sylvia Pagan. "Silicon Valley is very much a high-fiving, self-congratulatory culture," he said. "It was not written under the name of Frank, which is telling," the former Snowflake executive said. doing well, like Snowflake. I dont getthat excited, he explains. President Barack Obama appointed him to serve on the Presidents National Security Telecommunications Advisory Committee in January 2011, and he served on this Committee until April, 2023. Its about getting this entire organization to go in one direction.. Out went executives and sales reps who didnt fit Slootmans mold or didnt want to work for new supervisors who did. 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. Prior to founding Snowflake, Benoit was with Oracle for over 10 years as a lead architect for parallel execution in Oracle RAC and a key architect in the SQL Manageability group. It's about 40 miles from Snowflake's San Mateo headquarters and a 3.5-hour drive from Lake Tahoe, where the Slootmans have owned a home. I never talked to other companies. Over the past 20 years, as CEO of Data Domain and then ServiceNow and now Snowflake, Frank Slootman has generated extraordinary growth and success for each company and established himself as one of the world's top CEOs. 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. Teresa previously served as a Vice Chair & West Region and San Francisco Managing Partner of Deloitte, and as Managing Partner, Silicon Valley. Had they

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