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. ", Slootman said he left ServiceNow in 2017 because "they started caring about things that I had no interest in.". If Im doing a bad job, you should go ahead and fire me. He wants answers, he wants change, he wants to grow the business. There is no information on his parents, siblings, or any other family members. Frank explained. Snowflake CEO Frank Slootman, former CEO Bob Muglia, and cofounder Benoit Dageville are now billionaires after the data storage firm's blockbuster IPO, Forbes reported. 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. And the reason is, CEOs are only there for one reason, and that is they need to win. 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. enters into it, but I try not be a pattern matcher or be confined to my own out that way.. Slootman, who was born in the Dutch city of Huizen, 20 miles from Amsterdam, immigrated to the US in 1982 when he was in his 20s. Sylvia serves as Chief Human Resources Officer at Snowflake. His first action: reorganizing the sales arm of the business to separate large customers from small, focusing more intently on converting the bigger fish. "It had an aggressive tone to it," one former Snowflake executive said. What did the Snowflake board want from you that they could not get from other potential CEOs and that was lacking in the company at that point? So that was it. 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. 10. Was it purely the job with Burroughs or was there something else? And eventually, his journey led him to Data Domain. Founded by billionaire Fred Luddy, ServiceNow was cash-flow-positive and doubling revenue, but understaffedanemic, as Slootman now says. 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. In his book 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. Chris is married with 2 daughters and is an avid skier and golfer. Experts say Snowflake, which today has a market valuation of nearly $77 billion, has been bolstered by therise of remote work during the pandemic. In December, Bloomberg reported that Slootman's stock options were valued at $108 million monthly, thanks to its then market cap of $120 billion. Christian earned his bachelors degree in Industrial Engineering from Los Andes University, and he is a named inventor on numerous Snowflake patents. 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. Have I told you my point of view on boards? At the 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. Wyss said. The couple has been married for many years now, but the timeline of their wedding and relationship isnt made public. At Microsoft, he served as General Manager of the Data Warehousing product unit where he was responsible for a broad portfolio of products. Its much easier to select [Snowflake]., One unanticipated challenge, however: Snowflakes current stock price, which has exceeded even Slootmans expectations ,and which, as of mid-January, was trading at a revenue multiple of 140 times its estimated fiscal 2021 revenue, ahead of cloud darlings Crowdstrike, Okta and Zoom. Snowflake, a cloud-based data-warehousing company, went public at $120 a share, and has since seen shares trade as high as $328 per share. Start your free trial. ", Wyss said that every now and then Slootman would loosen up. It also changes over time. CTRL + SPACE for auto-complete. Here's how he makes and spends his fortune. Formerly Jayshree was Senior Vice President at Cisco, responsible for a $10B business in datacenter, switching and services. What's between them going even faster?'". Prior to joining Snowflake, she served as CMO for Apigee, an API platform company that went public in 2015 and Google acquired in 2016. Mark holds a B.S. In 2011, after the founder of ServiceNow Fred Luddy stepped down, ServiceNow announced appointment of Frank Slootman as CEO. He holds a BA from the University of Delaware. He played a critical role in transforming BladeLogic from a startup, to a public company, to the firms $880 million acquisition by BMC Software. [2] [3] The firm offers a cloud-based data storage and analytics service, generally termed "data-as-a-service". Frank Slootman received an undergraduate degree and a graduate degree from Erasmus University Rotterdam. Before being named CFO in 2015, Kramer was Senior Vice President of Business Technology and Operations Finance, partnering with the Development organization across business groups, segments, and operations on strategic long-range planning, budgeting, and forecasting new-offer development, as well as the analysis and strategy of product pricing. Harnessing the clouds flexible computing output as if it were one giant supercomputer, Snowflakes software could locate and organize customers increasingly large amounts of dataconsumer information, product sales, employee overheadthen help make sense of it all quickly and cheaply enough to make it truly useful. A Gartner analyst on vacation spotted the executive and crashed the meeting to go full fanboy. "I've literally never met the man," he said. 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. "You know, you're not going far enough, you're not going hard enough, you're not going fast enough. Slootman was winning so often that rumors started swirling that he had to be cheating. degree in engineering management. When Slootman attended all-hands meetings, he "would drop f-bombs and s-bombs," the executive said. 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 spent 13 years at Oracle focused on the optimization and parallelization layers in Oracle databases including as lead for the optimization group. NOW WATCH: Warren Buffett is one of the most frugal billionaires. 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. Frank Slootman, Chairman and CEO of Snowflake, recently launched a new book called Amp it Up: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity. bar after ServiceNow. "Everybody was out to get him," Gabriel said. Prior to Cisco, she was Vice President and Chief Financial Officer of GE Healthcares Healthcare Systems business. 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. Country of residence : Unknown. I helped the company move its software to non-mainframe platforms that started to emerge on UNIX in the late 80s. there was an element of restive, people like me have an outsized combative Everyone, that is, except Slootman. Are you now a professional CEO rather than a startup boss? Chief Marketing Officer. Mar 11, 2021, 11:30 ET. As Slootman put it: "I'm not the leader of the free world. Derk Lupinek serves as General Counsel of Snowflake. In 2011, Slootman joined ServiceNow as its CEO. 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 . Chris has over 20 years of technology sales experience. We'd all just roar with laughter. Tell me more, Asheem.' June 7, 2021. Which was then followed by his association with Compuware and software company Borland. By the close of Snowflake's first day of trading, its stock had shot up as much as 165%. An animal-rights philanthropist, Slootman allows his 8-month old Labrador puppy, Brida, year-old Golden Retriever, Quinn, and 10-year-old gray tabby cat, Portia, to crash his work-from-home meetings, including fact-checking calls from Forbes. Frank Slootman currently serves as Chairman and CEO at Snowflake. The company is going to have a great outcome To his relief, Begun told him a few weeks later that the new CEO valued his hustle and loyalty to the product. He also served as Vice President of Product Marketing and Product Management at VERITAS Software, which Symantec acquired. I will still Updated Jun 8, 2021, 8:46am PDT. Talking about his education, Frank first attended in Netherlands School of Economics and graduated in 1977. leave a leadership vacuum in the board room. 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. 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. This is the fundamental premise of a hard hitting new book written by Frank Slootman, chief executive of Snowflake Inc., and published earlier this year. In 2019, Slootman's boat manager, the former Olympic sailor Gavin Brady, was investigated by World Sailing, competitive sailing's governing body on suspicion of concealing modifications he made to another owner's boat. See Bio. After all, the former Snowflake executive said Slootman made it crystal clear that his No. 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. CEO Frank Slootman made $287,990 in salary in 2019. 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. 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. 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. This prompted Apple CEO Tim Cook to describe Deloitte as the ideal partner. Chief Revenue Officer. Thierry Cruanes. "It's a hard way to live because you always feel inadequate," he said on a December episode of the "What Got You There" podcast. Why are they only tripling sales? Snowflake is a cloud data-warehouse-as-a-service company operating in a sector expected to grow to $4.69bn revenues by 2024. [3] On September 16, 2020, Snowflake made an IPO, selling 28 million shares and raising $3.4 billion, making it the largest software IPO in history.[4]. "I crawled on the shore in this country, literally with 100 bucks in my pockets, and I'm not exaggerating when I say that," Slootman told Forbes. Under his tenure, Snowflake's customer count grew from 80 in June 2015 to . He is still on the boards at Pure and Elementum. 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. temperament that needs an outlet I guess, but I never really decided to Very large enterprises are choosing a vendor to go to bed with for five years, minimum, says Patrick Colville, an analyst at Deutsche Bank. His sailing group which included the Hong Kong business mogul Karl Kwok and the real-estate investor Manouch Moshayedi gradually dissolved amid squabbles over rules. Franks wife, Brenda, who is also 61 years old, is the Vice President and Secretary of the Slootman Family Foundation. "They love to just do a victory lap. + Follow. Chris serves as Snowflakes Chief Revenue Officer and has been with the company since 2013. The Slootmans also have a ranch in southwestern Montana. The former Snowflake executive said Slootman always set the expectations high, and then higher. Mr. Slootman is a billionaire businessman who was born on 3 rd October 1958 in Holland. I have American citizenship, which I treasure greatly, but there is no denying my Dutch roots. Benoit is a leading expert in parallel execution and self-tuning database systems. With a few million dollars left in the bank, we "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. Slootman knows exactly what he's doing. In 2017 and 2018, he donated $10,800 to the congressional campaign of Greg Gianforte, Montana's now governor who made national news in 2017 after body-slamming a reporter and getting elected to Congress the next day. Its about getting this entire organization to go in one direction.. Kramer has extensive experience in financial planning and analysis, profit-and-loss leadership, and mergers and acquisitions. Deloitte is the worlds largest professional services firm and provides audit, tax, financial advisory, and consulting services to more than 20 industry sectors in over 150 countries. 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. Blocks & Files: What was it about Snowflake that attracted you? Frank Slootman Bio: Early Life. Inside Snowflake, Slootman reengaged cofounder Dageville, now a billionaire himself, to spearhead the project; outside, analysts trust Slootman to figure it out. Speaking publicly about his departure for the first time, Muglia tells Forbes that it took him months to get over the shock. Amp it up and the results will follow. I exercise executive prerogative, he adds. Denise Persson. Prior to that, Mark served in several roles at VeriSign, including as Executive Vice President, Products and Marketing. Slootman once again led with sales as a bridge to a better product. How would you define your role? Greg has a PhD in Computer Science from Cornell University, an MBA from UC Berkeley, and an undergraduate degree from AGH Krakow, Poland. Snowflake's vision is a world with unlimited . See Bio. When he became CEO of Snowflake, Frank Slootman cut costs, including the company ski trip to Tahoe. I become the CEO I need to be, the one that the situation 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. This story appears in the March 31, 2021 issue of Forbes Magazine. See Bio. Prior to Snowflake, Chris served in Sales leadership roles at EMC and Aveksa, and worked in enterprise sales at Informatica and Covalent Technologies (acquired by VMware). Age : 63. Frank Slootman is the CEO of the Cloud-based data storage company Snowflake. Sylvia was previously Vice President, HR Technology and Digital Experience at Snowflake. I worked on the merger of Burroughs and Sperry which became Unisys. Frank Slootman is the biggest Snowflake of them all. "You're in a battle, and the battle doesn't end until you finish that race," Gabriel said. 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. In 2019, during an all-hands meeting at Snowflake, Slootman told the story of how early in his career he was rejected for a job he was well qualified for because the company needed to fill a quota of hiring more minorities, a former senior Snowflake employee said. Sunny Bedi serves as the Chief Information & Data Officer at Snowflake. I used to call it drunken sailors spending. 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. She has over 25 years of experience leading key aspects of global IT and HR organizations in high tech and healthcare. 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. I dont have to justify it, I dont have to convince you. to sell more than all its competitors combined. Write CSS OR LESS and hit save. Business is what I'm good at.". From 2017-2019, he was Vice President, Legal at ServiceNow, where he was responsible for corporate, securities, and M&A. You constantly live with that terminal fear of not doing enough.". I dont like there to be too He also owned and sailing a boat called Invisible Hand and co-funded the Pac52yachting regatta. Frank led Data Domain from the early phases to an IPO and then to a sale for $2.4 billion to EMC. Your email address will not be published. That's it.". The assignment itself was another challenge: Compuware was bleeding employees to Silicon Valleys emerging powers. It was hard for me to work in a big company, too slow and rigid, just not inspired. Released January 2022. It has been very obvious by now, that Frank prefers to maintain a tight lip when it comes to talking about his personal life details. The IPO was the. 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. by Frank Slootman. and six thousand enterprise customers worldwide. through the acquisition of Bix, where he served as CEO. Forthright Slootman was brought into the world on October 3, 1958, and is 61 years of age as of September 2020. 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. He hired up to 15 professional sailors and paid for their gear, travel, and accommodations for multiple races each year, which could cost as much as $1 million annually, according to his crewman Gabriel. ", "You know, he's this very formal, educated, Dutch, driven, business executive, right?" COVID-19 fundamentally changed the way businesses operate. She served as a member of the Executive Committee of the Bay Area Council, and the boards of directors for the California Academy of Sciences and the University of Arizona Eller College of Management. A standout economics student at Erasmus University Rotterdam, Slootman finished school a year early to pursue internships in the United States. I never worked in Holland, but was born, raised and educated there. In early 2018, just over a year before his dismissal, Muglia met Forbes for breakfast at a New York hotel. Prior to Snowflake, Greg spent 13 years at Google, where he was VP of Engineering responsible for a broad portfolio of Google Cloud data analytics and machine learning products and for internal services addressing data analytics needs of all of Googles businesses. He did this in part by diversifying the product set so ServiceNow could sell to lines of business (LOBs) outside the IT department. Im more interested in why you returned to the CEO frontline than the specific possibilities at Snowflake. It is highly unusual for a board to make leadership changes in a company that is Chief Financial Officer. At Snowflake, Muglia moved fast to get the company into the market, pricing it to match Amazon Web Services by-the-second consumption model, which offered a pay-as-you-go alternative to a subscription, then targeting customers of Amazons own rival product, Redshift. Previously, Mike was Vice President and Technical Advisor to Symantecs Chairman & CEO. "For many, this is very attractive," Slootman said of San Diego's laid-backness. #1905 Frank Slootman on the 2023 Billionaires - Frank Slootman is the CEO of Snowflake, a cloud-based database firm he joined in 2019 and took public in . doing well, like Snowflake. He recalled one instance when Slootman referred to ServiceNow's customers as its "homies. "I used to call it 'drunken sailors' spending. Visit Business Insider's homepage for more stories. Slootman: Suppose An IPO is a blip on the radar, a mile marker during the marathon, he says now. "And so I think by remaining neutral, you can allow everyone the freedom to have their own opinion and then keep that separate from work.". 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. However, at the age of 26, Frank moved to the USA in 1984 to work for Burroughs. 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. I worked on the merger of Burroughs and Sperry which became Unisys. is situational. You can look at my private companies and see how that turned out, he says. I dont getthat excited, he explains. 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. ISBN: 9781119836117. Otherwise, Im going to go ahead and run the company., When Slootman expressed interest in the Snowflake CEO job, Sequoia and Sutter Hill jumped. Companies that stand for something make employees excited to work there, she said. 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. Slootman has no qualms breaking with convention. He settled on a fast-growing but under-the-radar software startup based in Santa Clara called ServiceNow. This is good news for Snowflake.. Previous to Serena, he led Symantecs $2 billion Enterprise Security product line as Group President of Security and Data Management. The simplest explanation is that investors wanted someone He owns 5.9% of Snowflake. 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. Data Domain and ServiceNow hired you on merit, not because you checked a box.". Frank Slootman is the Chairman and CEO of Snowflake. He is also on the board of Maplebear, Inc. and Elementum Ltd. (United States). Do you get on with Larry Ellison with regard to sailing? I learned from that experience that I dont want to be in an elevator thats going down, he says. Prior to joining Snowflake, Mike served as CFO at ServiceNow from 2011-2019. [1] In June 2012, ServiceNow became a publicly-traded company as Frank Slootman led the company through a $210 million IPO. 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. "You could not escape the combat mentality at our companies. "We did not come in peace," he wrote. The ever-cocky Slootman relishes the idea of proving the doubters wrong. With Scarpelli's help, Slootman started cutting costs. "When you have the potential [to build] one of the game-changing companies of all time, you should take the chance," Speiser told Forbes. data warehousing is shifting inexorably to the cloud, Scale Computing: Idea that customers should run multiple edge compute platforms is absurd, S3, file access and high performance this is not your old object storage, UniFabriX doubles rack server density with CXL, Single sales rep inflated WANdisco numbers, Komprise service auto tiers files to Azure blobs, Pure Storage updates FlashArray Purity OS, ChatGPT hype snags database startup $100M. were months away from running out of money. He helped define the architecture and lead database performance efforts for Bulls parallel systems. As President and CEO of Arista for over a decade, Jayshree Ullal is responsible for Aristas business and thought leadership in cloud networking. My eyes are on the horizon., Covering venture capital, cloud and startups. Working with a wide range of clients including TPG, Nordstrom, Yelp, McKesson, and PG&E, Teresa earned her reputation as one of the most trusted advisors in the Bay Area. Snowflake Inc. Snowflake Inc. is a cloud computing -based data cloud company based in Bozeman, Montana. Slootman: I admire Frank Slootman currently serves as Chairman and CEO at Snowflake. They obviously felt they would materialize more of Frank has always refrained from talking about them even in his interviews. Slootman likes to say that he doesnt have a formula, even after having pulled off similar magic at both Data Domain and ServiceNow. As Executive Vice President and CFO, Mark co-led Documentums $1.7 billion sale to EMC. He had built a monster and Data Domain still dominates the purpose-built backup appliance market, 11 years on. Snowflake CEO Frank Slootman, former CEO Bob Muglia, and cofounder Benoit Dageville are now billionaires after the data storage firm's blockbuster IPO, The eight-year-old data storage firm shot up as much as, Even before his official induction into the three-comma club, Slootman was. asked a year earlier, I likely would not have bit down on this. Benoit Dageville co-founded Snowflake and currently serves as President of the Product division. Had they Competitors include Vantage, SAP, Yellowbrick Data, Microsoft Azure and AWS. day and we will from here on out. Publisher (s): Wiley. 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. Hes, like, Im getting [to be an] old man, I dont have time to wait. Thats just how he operates, Degnan says. The Snowflake executive team represents centuries of technology, product and business experience to create and advance the only cloud data platform built to enable the data-driven enterprise. SAN FRANCISCO, March 11, 2021 /PRNewswire/ -- Instacart, the leading online grocery platform in North America, today announced that Frank Slootman, Chairman and Chief . So its showing them a really nice path forward. In the weeks after the Slootman era kicked off at Snowflake, executives filed into Slootmans unadorned office one by one to meet the boss, while Speiser, the one who had reached out to Slootman, filled in for him in meetings. 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. 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 . Every other CEO of a company's making statements about how they support diversity, but you're not doing anything.'". We sailed straight in. Chairman and Chief Executive Officer. many layers between me and the action. That doesnt Jayshree holds a B.S. He barely slept, said Ruben Gabriel, one of the crew. 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. Otherwise, Im going to go ahead and run the company.. The CEO has plenty of reason to stick around, too, with billions tied up in unvested Snowflake shares. ", The post raised collective eyebrows at Snowflake, former employees said. If Im doing a bad job, you should go ahead and fire me. 2 min read. We were undoubtedly slow Thierry is a leading expert in query optimization and parallel execution. In 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. Five lessons in leadership from Snowflake CEO, Frank Slootman.
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