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Also, they havent shared any details on their parenthood, but we believe that the two have a son together. And there'd be some praise or whatever," Chandna said. The vast majority can already be exercised but the underlying shares vest monthly over four years, beginning . 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. 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. They obviously felt they would materialize more of It is highly unusual for a board to make leadership changes in a company that is So its showing them a really nice path forward. In early 2018, just over a year before his dismissal, Muglia met Forbes for breakfast at a New York hotel. Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company. CEOs that have a relentless, unapologetic focus on the business. Snowflake CEO Frank Slootman's discussion of diversity in hiring in this June 3 interview with Emily Chang on "Bloomberg Technology" prompted him to issue an apology on Monday after some . 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 . Sylvia serves as Chief Human Resources Officer at Snowflake. Talk to him at length, though, and watch the patterns, and you can see thats not true. Chandna mentioned a Greylock startup that planned on tripling sales. 2 min read. 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. Wyss said. Thierry co-founded Snowflake and currently serves as Chief Technical Officer. Copyright 2023 | WordPress Theme by MH Themes, Check Out The Net Worth of Hallea Jones! Just a month later, Snowflake under Slootman had shifted to become a performance-based business. that outcome could be. See Bio. Mark also serves on the boards of Cisco, GoDaddy and Pure Storage. As for Slootman, he has reached nearly mythic status in Silicon Valley as he continues to captain the ship at one of the industry's most prominent success stories of the past decade. He holds a BS and MBA from University of San Francisco, and Executive Education in Leadership and Technology from Stanford University. "It was not the kind of environment that I enjoyed participating in," Haldeman said. Creative Commons Attribution-ShareAlike. ", The post raised collective eyebrows at Snowflake, former employees said. 5.9% of any company is a huge deal. Slootman was winning so often that rumors started swirling that he had to be cheating. It took on another $450 million, this time at a $4 billion valuation, about nine months later. past. He did this in part by diversifying the product set so ServiceNow could sell to lines of business (LOBs) outside the IT department. The son of a military veteran and an artist, Slootman studied economics at Erasmus University in Rotterdam, Netherlands, before moving to the US with a dream of working for IBM, the CEO told Forbes. In his book Teresas governance experience extends from her time in the boardrooms of many of her major clients to Deloittes U.S. board of directors, where she served on committees overseeing compensation, M&A, risk and regulatory matters (including cyber), and large internal investments. Data Domains revenue more than doubled each year for the next four years. However, at the age of 26, Frank moved to the USA in 1984 to work for Burroughs. Snowflake, valued at $4 billion when Slootman took over, more than doubled that first day and is up significantly since. We were undoubtedly slow The flip side: sticker shock, as companies bills rapidly grew, and unpredictability, as Snowflake struggled to deliver accurate revenue projections. Benoit is a leading expert in parallel execution and self-tuning database systems. I always felt I was born in the wrong country. And the reason is, CEOs are only there for one reason, and that is they need to win. One major cause for the shock: By all appearances, Snowflake wasnt strugglingand it already had a high-profile CEO. Chairman and Chief Executive Officer. The issue was not Do I like the company? The issue was How many shares do I get? he recalls in his Dutch accent. But sailing couldn't keep him occupied for long. 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. Formerly Jayshree was Senior Vice President at Cisco, responsible for a $10B business in datacenter, switching and services. Founded by billionaire Fred Luddy, ServiceNow was cash-flow-positive and doubling revenue, but understaffedanemic, as Slootman now says. Slootman and his crew won by nearly four hours. "I think the moral of that story was don't let failure get you down.". I entered the US in 1984. degree from UC Hastings College of the Law. 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. In the past Mr. Slootman occupied the position of Chairman at ServiceNow, Inc., Principal at Compuware Corp., General Manager for Ecosystems SRL, Partner at Greylock Partners LLC, President & Chief Executive Officer at Data Domain, Inc., Senior Vice President-Products at Borland Software Corp., President-Backup Recovery Systems Division at EMC Corp., Principal at Burroughs Corp. and Venture Partner at Greylock Management Corp. I never worked in Holland, but was born, raised and educated there. The book . 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 $1T. Snowflake CEO Offers Apologies, Support for Hiring Diversity He holds a BA from the University of Delaware. Blocks & Files: What was it about Snowflake that attracted you? Inside Snowflake, Slootman reengaged cofounder Dageville, now a billionaire himself, to spearhead the project; outside, analysts trust Slootman to figure it out. Buying up cloud storage credits from Amazon and its rivals and reselling them, all while keeping Snowflakes own software running, was costly, especially as Snowflake expanded to new markets such as Australia. Chris Degnan. Its technologyquicker to offer cloud data warehousing than Oracle, Teradata and other database companies but challenged at every turn by Redshift, Googles Big Query and Microsofts Azure Synapse productsrequired a large and continuous amount of R&D spending. Christian Kleinerman is a database expert with over 20 years of experience working with various database technologies, currently serving as Senior Vice President of Product at Snowflake. The success was because of Slootman and his share on the company is 30% hence making his net worth as of 2020 is 1.8$ billion. 1 job was to make the shareholders money. Save my name, email, and website in this browser for the next time I comment. And 99 times out of 100, youre wrong on that, which is the reason I [now] pull triggers much faster. Otherwise, Im going to go ahead and run the company., When Slootman expressed interest in the Snowflake CEO job, Sequoia and Sutter Hill jumped. "They love to just do a victory lap. They were all out there to foul us, to do whatever they can to trip us up. warrants. He helped define the architecture and lead database performance efforts for Bulls parallel systems. I was rejected at least a dozen times by IBM. In his 2018 LinkedIn post, Slootman wrote that he had "nothing against 'diversity and inclusion' as long as it results from our goal-oriented modes of execution. TAPE SUCKS: Inside Data Domain, A Silicon Valley Growth Story he wrote: I was CEO of Data Domain, Inc. from the As in sailing, the Thierry has a PhD in Computer Science with a focus in Database Systems and holds over 70 patents. Billboard ads with corny messages like Happy Holi-data soon lined Silicon Valleys main highway, U.S. Route 101. 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Presents at Goldman Sachs Communacopia + Technology Conference 2022, Sep-14-2022 03:45 PM. Published Jul 7, 2022. But all that changed when Slootman came aboard. Previously, Mike was Vice President and Technical Advisor to Symantecs Chairman & CEO. The Dutchman joined Snowflake as CEO in April, after leaving ServiceNow in March 2017 following six years as CEO, where he helped scale the software-as-a-service (SaaS) firm towards becoming the . Do you get on with Larry Ellison with regard to sailing? Benoit Dageville. Have I told you my point of view on boards? ISBN: 9781119836117. She is a recipient of the SFSU and SCU Distinguished Alumni Awards in 2013 and 2016. After leaving the company Slootman joined the board of Imperva, a cyber security business, and spent some time in venture capital, investing in startups. Slootman's pay includes more than 13.7 million options with a strike price of $8.88. ability to rapidly shift so-called modes is crucial. Muglia received two days' notice before Slootman was introduced to employees in an all-hands meeting. But the question becamehowgreat He joined Yahoo! A Pac52 sailboat like Slootman's Invisible Hand costs between $1.8 million and $2.5 million. Country of residence : Unknown. After telling Bloomberg TV that he can't allow a push for diversity in tech to "override merit," Snowflake CEO Frank Slootman released a statement Monday apologizing for a "lack of clarity" in those comments. Data Domain and ServiceNow hired you on merit, not because you checked a box.". Snowflake's Slootman, 2 Others Billionaires After Record-Breaking IPO Stay up to date with what you want to know. 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. is situational. Snowflake, while not yet generating $1 billion in annual revenue, leaped into the Cloud Wars Top 10 several months ago and . leave a leadership vacuum in the board room. 10 Facts About Frank Slootman. Scarpelli got to work on Snowflakes books. Frank explained. I campaigned our TP52 Invisible Hand for three years. I helped the company move its software to non-mainframe platforms that started to emerge on UNIX in the late 80s. Mar 11, 2021, 11:30 ET. Senada Greca Wiki: Age, Birthday, Husband, Net Worth, Height, Ethnicity, Boyfriend, Biography, Fatima Goss Graves Bio Wikipedia: Husband, Age, Net Worth, Instagram, Children, Birthday. Presently, Frank Slootman is Chairman & Chief Executive Officer of Snowflake, Inc. Most recently, Christian worked at Google leading YouTubes infrastructure and data systems. Which was then followed by his association with Compuware and software company Borland. As Executive Vice President and CFO, Mark co-led Documentums $1.7 billion sale to EMC. Its [always] been too late. Read it now on the O'Reilly learning platform with a 10-day free trial. We broke the billion-dollar Source of Wealth Software, Self . Greg has a PhD in Computer Science from Cornell University, an MBA from UC Berkeley, and an undergraduate degree from AGH Krakow, Poland. 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. Cofounders Dageville and Cruanes are counting on Slootman and CFO Scarpelli to steer Snowflake through the stock markets gyrations. This stock is being completely driven by the Robinhood crowd., Perhaps Slootmans greatest triumph so far: selling both outside experts and those within the company on the possibilities of Snowflake 2.0, its shift from being a data warehouse to more of a data hub on which businesses can securely (and temporarily) share information with each other, develop apps and feed their data into artificial intelligence tools. Mark brings nearly 40 years of experience to Snowflake as an executive leader, an expert in accounting and financial management, and a visionary in growing and transforming technology companies. Very large enterprises are choosing a vendor to go to bed with for five years, minimum, says Patrick Colville, an analyst at Deutsche Bank. Slootman has no qualms breaking with convention. sales barrier in less than seven years, adding more than one thousand employees We won many races, including the Transpac overall in 2017, but I sold and donated all my boats so I can concentrate on the Snowflake journey. Benoit Dageville co-founded Snowflake and currently serves as President of the Product division. Slootman: My role Soon after graduation, he got enrolled in VP/GM where he had a role straddled for a 3-year stint in Europe as GM of the UNIFACE company. Genevieve Haldeman, the vice president of corporate communications at ServiceNow between 2014 and 2016, said she felt that Slootman's leadership style could make for an abrasive workplace. Are you now a professional CEO rather than a startup boss? Prior to Oracle, Benoit worked at Bull Information Systems. Im more interested in why you returned to the CEO frontline than the specific possibilities at Snowflake. Franks wife, Brenda, who is also 61 years old, is the Vice President and Secretary of the Slootman Family Foundation. I would say, 'We're spending like drunken sailors,' and they would say, 'Yes, keep doing it.' She would also help a board address key issues including digital transformation, human capital, governance, and M&A. 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 . "Comments I made during a media interview last week may have led some to infer that I believe that diversity and merit are . He previously served as Senior Vice President of Finance and Business Operations of the Backup Recovery Systems Division at EMC from July 2009 to August 2011, after EMC acquired Data Domain where he served as CFO for three years. Mark joined Adobe in 2007 as Executive Vice President and CFO, leading Adobes worldwide finance, operations and corporate development activities, including investor relations, procurement, global supply chain and order management, and corporate strategy and strategic partnerships. Here's how he makes and spends his fortune. When Slootman took ServiceNow public in 2012, he rang the NYSE bell in person. Frank Slootman Net Worth, Wiki, Bio, Family, Age, Wife / . I worked on the merger of Burroughs and Sperry which became Unisys. "We did not come in peace," he wrote. That's not him at all. This article "Frank Slootman" is from Wikipedia. He holds over 50 patents. 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. Updated Jun 8, 2021, 8:46am PDT. Slootman: Snowflake So far, Snowflake is outrunning its competition. 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. Frank has always refrained from talking about them even in his interviews. Furthermore, Frank was also the CEO of the Data Domain for 6 years from 2003 to 2006. The job of the board is to hire and fire the CEO. He retired from Adobe in April 2018. Jayshree holds a B.S. Five lessons in leadership from Snowflake CEO, Frank Slootman. Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company.. Career. It was a very high In came two of his top lieutenants from Data Domain and ServiceNow: Mike Scarpelli to oversee finances and Shelly Begun to run HR. He barely slept, said Ruben Gabriel, one of the crew. This page was last edited on 12 March 2021, at 18:12. 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. Age : 63. Benoit has a PhD in Computer Science with a focus in Parallel Database Systems and is a named inventor on more than 100 patents. I just kind of fell into it," he said. Slootman: Whether This prompted Apple CEO Tim Cook to describe Deloitte as the ideal partner. Experience obviously Slootman did not respond to requests from Insider for comment. the board gives me the chairman title or not does not matter. 10 Things You Didn't Know About Frank Slootman - Money Inc Slootman began to hone his skills: He put more energy into short-term sales, worked to improve the product and raised cash to keep the business afloat. 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. "Frank said, 'So the IT service managers, those are our homies, right?' And when you lose, nobody can help you., During his short-lived retirement, Slootman raced aboard his Pac52 Class 52-foot yacht, Invisible Hand. I never talked to other companies. 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. "You're in a battle, and the battle doesn't end until you finish that race," Gabriel said. Frank Slootman is the biggest Snowflake of them all "He would always crash my executive briefings," Wyss said. 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. Thierry Cruanes. This story appears in the March 31, 2021 issue of Forbes Magazine. Some employees were irked when the CEO shut down a leased WeWork office in San Francisco and instead rented a new office space in the East Bay area that happened to be a 10-minute drive from Slootman's home, one former executive said. 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. After his retirement from ServiceNow, Slootman poured millions into his sailing hobby, people familiar with his sailing operation said. His second: parting ways with anyone who seemed fond of palace intrigue or who didnt deliver precisely on their word. It sounds like they've got a great product-market fit. many layers between me and the action. So that was it. Snowflake's vision is a world with unlimited . He also co-founded Epinions.com, worked as a consultant at McKinsey & Company, and was an analyst with CS First Boston. Find out about Snowflakes latest business and technology achievements by catching up any of our press releases and industry news articles, Get first-hand insights about our latest product features, technology partnerships, and recommendations on how to get the highest value from your, Learn how thousands of organizations around the globe and across dozens of industries are using Snowflakes Data Cloud to advance their, 2023 Snowflake Inc. All Rights Reserved | If youd rather not receive future emails from Snowflake, unsubscribe here or customize your communication preferences, Snowflake for Advertising, Media, & Entertainment, unsubscribe here or customize your communication preferences. "People would go surfing in the mornings, and they'd have these home-brew beer-making contests and all that," John Wyss, who was a director of product strategy at ServiceNow between 2014 and 2016, told Insider of the pre-Slootman days. He said Slootman would check the navigation at all hours of the night to ensure Invisible Hand held its lead. And it was the right thing to do," Muglia recently told Forbes. Because struggling sectors like the travel industry could simply reduce their usage without renegotiating contractsand others, such as those in e-commerce or food delivery, saw demand quintupleSnowflakes sales barely hiccuped. I am truly a hybrid Dutch-American. In 2003, he became CEO of storage startup Data . The job of the board is to hire and 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. Starting as employee #13 and Sales employee #1, Chris built a Go To Market strategy from the ground up, driving sustained high growth and global reach. [1] In June 2012, ServiceNow became a publicly-traded company as Frank Slootman led the company through a $210 million IPO. Chris serves as Snowflakes Chief Revenue Officer and has been with the company since 2013. Frank Slootman - Wikitia Previous to Serena, he led Symantecs $2 billion Enterprise Security product line as Group President of Security and Data Management. Blocks & Files: You were born and raised in The Netherlands. He is also on the board of Maplebear, Inc. and Elementum Ltd. (United States). "I never decided to go back or talked to anybody. Frank Slootman - Forbes Sunny Bedi serves as the Chief Information & Data Officer at Snowflake. Muglia said that when he was CEO the board of directors encouraged a culture of free spending. The CEO has plenty of reason to stick around, too, with billions tied up in unvested Snowflake shares. However, the details of his conjugal life are known to few. "I've literally never met the man," he said. She has over 25 years of experience leading key aspects of global IT and HR organizations in high tech and healthcare. the data storage world Slootman is a celebrity CEO, thanks to his tenure as Slootman told CNBC in October that he had no time for Silicon Valley's "lattes and neck rubs" culture. Time will tell, of course. The former Snowflake executive said Slootman always set the expectations high, and then higher. But Slootman was more interested in running the show, and Snowflake seized the opportunity. 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. Amping it up with Snowflake CEO Frank Slootman - SiliconANGLE Subscribe. My whole career was doing jobs that other people didnt want to take, he says. In a rare interview, the press-shy Speiser discussed the difficult decision to fire Muglia: When you have the potential [to build] one of the game-changing companies of all time, you should take the chance., Just one problem: No one told Muglia until the day the company announced the coup. That push, which Snowflake says would increase its addressable market from $14 billion to a recent $81 billion, is very much a work in progress. Its about getting this entire organization to go in one direction.. I also had had enough time off, two years. "Bob was kind of like your dad, just very jovial and happy, would walk around and talk to employees," the former executive added. 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. Get to Know Snowflake's Leadership Team | Snowflake 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. I have American citizenship, which I treasure greatly, but there is no denying my Dutch roots. Mark currently serves as Chairman of the board of directors of Qualcomm, Inc. and as a director of Snorkel.AI. 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 . Benoit has a PhD in Computer Science with a focus in Parallel Database Systems and is a named inventor on more than 100 patents. He is still on the boards at Pure and Elementum. Since the start of the pandemic nearly a year ago, there's been one word on the lips of every business leader, analyst, and investor around the world: cloud. My eyes are on the horizon., Covering venture capital, cloud and startups. You constantly live with that terminal fear of not doing enough.". A financial, digital, and M&A expert with a uniquely broad and deep perspective into the challenges facing many of the worlds most innovative companies, Teresa built Deloittes U.S. West Region into a $3.0B business. He spent 13 years at Oracle focused on the optimization and parallelization layers in Oracle databases including as lead for the optimization group. Companies that stand for something make employees excited to work there, she said. [2], In May 2019, Frank Slootman joined Snowflake Inc. as its CEO. Frank Slootman - Chairman and Chief Executive Officer - LinkedIn The couple has been married for many years now, but the timeline of their wedding and relationship isnt made public. SAN MATEO, CA - May 1, 2019 - Snowflake Inc., the only data warehouse built for the cloud, today appointed Frank Slootman as its Chairman and Chief Executive Officer.Former CEO, Bob Muglia, has left the company after leading Snowflake through five years of unprecedented growth. 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. If Im doing a bad job, you should go ahead and fire me. and six thousand enterprise customers worldwide. Blocks & Files: Which other CEOs do you admire and why? These LOBS could switch on a service instead of needing their own software tools to manage processes. The eight-year . A CEO must lead a board, period. "He's not somebody who has a need to be liked.". Dominic Ruso, ServiceNow's former vice president of finance, replaced Balaguras. Narrow the Focus, Increase the Quality with Frank Slootman - LinkedIn Snowflake CEO Frank Slootman has been at the CEO game long enough to learn a few things or two on how to create a successful business. 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. By the close of Snowflake's first day . Frank's the type that he just doesn't take any bullshit, and there was some shit going on and he said, 'OK, I'm done.' The company currently has a market cap of $48 billion. He recalled one instance when Slootman referred to ServiceNow's customers as its "homies. What brought to the USA? I worked on the merger of Burroughs and Sperry which became Unisys. Your email address will not be published. "It had an aggressive tone to it," one former Snowflake executive said. temperament that needs an outlet I guess, but I never really decided to In addition, her organization managed finance for the companys supply chain, marketing, corporate communications, operations, HR, and IT groups.
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