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 . We're not into that. This page was last edited on 12 March 2021, at 18:12. And we're all just like, 'Did Frank just call the customer our homies?' 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. He holds over 50 patents. that outcome could be. "That was kind of awesome. The investigation was dropped in February because of a technicality, and Brady was given a warning. Kramer joined Cisco in 2012 as Senior Vice President of Corporate Finance. 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. I dont getthat excited, he explains. This stock is being completely driven by the Robinhood crowd.. 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. In a December talk with Foundation Capital, Slootman said he had had "zero plans" to take on another CEO job. In 2014, after two years under the radar focusing on shipping the software, Speiser tapped Muglia to replace him as CEO. "When you have the potential [to build] one of the game-changing companies of all time, you should take the chance," Speiser told Forbes. At the The simplest explanation is that investors wanted someone In both her ServiceNow and Snowflake roles, Sylvia was instrumental in scaling HR functionality in hypergrowth environments into successful and sustainable post-IPO trajectories. At ServiceNow and also at Snowflake you replaced previous CEOs who had already built the companies to substantial sizes. After fighting so hard to become a CEO, Slootman doesnt know how to do anything else. 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. Its like being on the Americas Cup boats: Every day is about sailing faster, says Denise Persson, Snowflakes CMO. ", The post raised collective eyebrows at Snowflake, former employees said. My eyes are on the horizon., Covering venture capital, cloud and startups. You can look at my private companies and see how that turned out, he says. Scarpelli got to work on Snowflakes books. 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. 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. Companies that stand for something make employees excited to work there, she said. People want to be patted on the back and feel good I'm into not feeling good.". In his new book . Mike Scarpelli. Frank Slootman is the biggest Snowflake of them all. degree from UCLA and a J.D. Mike joined Sutter Hill Ventures in 2008 from Yahoo!, where he was Vice President of Community products. In 2003, he became CEO of storage startup Data . Frank explained. The flip side: sticker shock, as companies bills rapidly grew, and unpredictability, as Snowflake struggled to deliver accurate revenue projections. 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 . In 2019, before the company went public, Slootman made more than $60 million in total compensation. Frank Slootmans path to the American Dream, via IPO billions, started with his making Naugahyde seats for the automotive and boating industries. She has over 25 years of experience leading key aspects of global IT and HR organizations in high tech and healthcare. 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?. Public asset : 162,785,053 USD. Frank Slootman Bio: Early Life. Blocks & Files is interested in finding out more about his Rather than the usual grilling, Slootman was toasted instead. But sailing couldn't keep him occupied for long. Snowflake's vision is a world with unlimited . Doug, thank you for that comment, Slootman replied. TAPE SUCKS: Inside Data Domain, A Silicon Valley Growth Story he wrote: I was CEO of Data Domain, Inc. from the But all that changed when Slootman came aboard. Sylvia Pagan. Amp It Up: Leading for Hypergrowth by Raising Expectations, Increasing Frank served as President of the Backup Recovery Systems Division at EMC following the 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. 5.9% of any company is a huge deal. Do you get on with Larry Ellison with regard to sailing? that upside with me at the helm. With an exit in his back pocket, Slootman had his pick of companies for his next act, in 2011. 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. Key Learnings from: Narrow the Focus, Increase the Quality. fire the CEO. Insider spoke with 15 people who know Slootman, who is 62, including former Snowflake colleagues and those from Slootman's past companies ServiceNow and Data Domain. Just six months in, he had lined up his anchor investors, including Dragoneer Investment Group and Marc Benioffs Salesforce. If Im doing a bad job, you should go ahead and fire me. After the Data Domain acquisition, Slootman spent two years inside EMC as president of the Backup and Recovery Systems Division. It currently boasts a market capitalization of $81 billion on trailing sales of roughly $580 million. However, at the age of 26, Frank moved to the USA in 1984 to work for Burroughs. 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. Muglia said that when he was CEO the board of directors encouraged a culture of free spending. I was rejected at least a dozen times by IBM. Benoit Dageville co-founded Snowflake and currently serves as President of the Product division. felt it not equitable for customers. And 99 times out of 100, youre wrong on that, which is the reason I [now] pull triggers much faster. 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. 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. Approximately 80% of the Fortune 500 turn to Deloitte for strategies that create shareholder value. 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. See Bio. "My wife's still wondering what the hell happened.". Soon Slootman resumed his old tricks. Experts say Snowflake, which today has a market valuation of nearly $77 billion, has been bolstered by therise of remote work during the pandemic. Founded by billionaire Fred Luddy, ServiceNow was cash-flow-positive and doubling revenue, but understaffedanemic, as Slootman now says. He retired from Adobe in April 2018. Prior to joining Snowflake, Mike served as CFO at ServiceNow from 2011-2019. The thing I liked about sailing was that if you make a mistake, its obvious within minutes.. 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. Slootman: Sailing is in ones blood. Sign up for notifications from Insider! Around the same time, he began meeting with research analysts who would wind up setting bullish prices for the IPO. 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. Snowflake Appoints Frank Slootman as Chairman and CEO Prioritizing the development of raw talent with high upside, Slootman was able to stabilize Compuware. That led to Data Domain. He replaced a number of Snowflake's top executives including Chief Financial Officer Thomas Tuchscherer, Vice President of People Kathy O'Driscoll, and Vice President of Finance Jeff Balaguras with his own trusted lieutenants. 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. 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. Grzegorz (Greg) Czajkowski, a distributed systems and organizations scaling expert, is Senior Vice President of Engineering and Support at Snowflake. 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. Get to Know Snowflake's Leadership Team | Snowflake 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. Staffers started frantically Googling their new boss. These are multiples, frankly, that the world hasnt seen since the internet bubble in 1999, says Brad Zelnick, an analyst at Credit Suisse. In April 2019, Snowflake's board of directors announced that its CEO of five years, Bob Muglia, was being replaced. Which was then followed by his association with Compuware and software company Borland. 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. And when you lose, nobody can help you., During his short-lived retirement, Slootman raced aboard his Pac52 Class 52-foot yacht, Invisible Hand. asked a year earlier, I likely would not have bit down on this. Thierry has a PhD in Computer Science with a focus in Database Systems and holds over 70 patents. 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. Published Jul 7, 2022. Further, Frank also shed some lights on his early work experience at Burroughs. Im more interested in why you returned to the CEO frontline than the specific possibilities at Snowflake. Mark also serves on the boards of Cisco, GoDaddy and Pure Storage. The former Snowflake executive recalled Slootman once saying: "I'm not good at hobbies. He has more than 15 years of management and leadership experience. day and we will from here on out. It was a very high Greg has a PhD in Computer Science from Cornell University, an MBA from UC Berkeley, and an undergraduate degree from AGH Krakow, Poland. 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. I campaigned our TP52 Invisible Hand for three years. [2], In May 2019, Frank Slootman joined Snowflake Inc. as its CEO. Chris Degnan. In addition to her board responsibilities at Deloitte, she has held a number of governance roles with professional and community organizations. So why did the Snowflake VCs call on Slootman? 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. How would you define your role? The vast majority can already be exercised but the underlying shares vest monthly over four years, beginning . I have American citizenship, which I treasure greatly, but there is no denying my Dutch roots. I exercise executive prerogative, he adds. Frank Slootman is the CEO of Snowflake, a cloud-based database firm he joined in 2019 and took public in September 2020 in a blockbuster IPO. Who is Snowflake CEO Frank Slootman? | The US Sun time I joined, Data Domain had about 20 employees, no customers, no revenues, 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? 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. The job of the board is to hire and I was never a mainframe guy. Also, I helped the company move its software to non-mainframe platforms that started to emerge on UNIX in the late 80s. He helped define the architecture and lead database performance efforts for Bulls parallel systems. 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. The couple has been married for many years now, but the timeline of their wedding and relationship isnt made public. Data Domain was running out of money; its technology, while theoretically more powerful than the existing alternatives, ran prohibitively slowly. Muglia was no slouch: an engineer who was one of Microsofts four presidents before Steve Ballmer replaced him with Satya Nadella. The issue was not Do I like the company? The issue was How many shares do I get? he recalls in his Dutch accent. Frank has always refrained from talking about them even in his interviews. 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. He also owned and sailing a boat called Invisible Hand and co-funded the Pac52yachting regatta. But one former senior employee defended Slootman's approach to social issues. 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. The list of its authors can be seen in its historical. When you win, nobody can hurt you. Frank Slootman Wife, Bio, Net Worth, Salary, Book, Married - Bioagewho She is a recipient of the SFSU and SCU Distinguished Alumni Awards in 2013 and 2016. From September 2019 through August 2020, Teresa is enrolled as a Fellow at Stanford Universitys Distinguished Careers Institute. Slootman returned to executive responsibilities in April 2011, taking the chairman and CEO roles at the cloud service company ServiceNow. It was swift.". It was founded in July 2012 and was publicly launched in October 2014 after two years in stealth mode. What is the appeal of that? Frank Slootman Net Worth, Wiki, Bio, Family, Age, Wife Slootman was born in The Netherlands and moved to the USA in 1984 to work for Burroughs, then Compuware and software company Borland. Snowflake, valued at $4 billion when Slootman took over, more than doubled that first day and is up significantly since. 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. Slootman may be someone you wouldn't be comfortable sitting face-to-face with, but he's definitely someone you can listen to in a room full of people. ", There were no employee-resource groups at ServiceNow, she said, and endeavors like creating a diverse workplace were "not a priority. Snowflake is a special company, they just dont When Slootman attended all-hands meetings, he "would drop f-bombs and s-bombs," the executive said. 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. We were in a shit fight all the time. 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. 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. Every other CEO of a company's making statements about how they support diversity, but you're not doing anything.'". Start your free trial. 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. Sign up for notifications from Insider! NOW WATCH: Warren Buffett is one of the most frugal billionaires. can execute, but I cant justify Hes, like, Im getting [to be an] old man, I dont have time to wait. Thats just how he operates, Degnan says. I have American citizenship, which I treasure greatly, but there is no denying my Dutch roots. Slootman is the CEO of Snowflake, a cloud-based database firm he joined in 2019 and took public in September 2020 in a blockbuster initial public offering (IPO). Sylvia serves as Chief Human Resources Officer at Snowflake. The company promised to do for data warehouses, which then lived on customers own servers, what Amazon Web Services had done for data storage. Co-Founder & President of Product. Prior to Oracle, Benoit worked at Bull Information Systems. Teresa previously served as a Vice Chair & West Region and San Francisco Managing Partner of Deloitte, and as Managing Partner, Silicon Valley. Slootman retired in 2017, but the break was short-lived. What brought to the USA? [2] [3] The firm offers a cloud-based data storage and analytics service, generally termed "data-as-a-service". Slootman has no qualms breaking with convention. I never talked to other companies. 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. Slootman brought this combative spirit to Snowflake, cutting spending and people he deemed unnecessary, insiders said. 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. If Im doing a bad job, you should go ahead and fire me. When he became CEO of Snowflake, Frank Slootman cut costs, including the company ski trip to Tahoe. And eventually, his journey led him to Data Domain. 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.' 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. With a few million dollars left in the bank, we eight hundred pound gorilla in the space, but we sure did not start He did this in part by diversifying the product set so ServiceNow could sell to lines of business (LOBs) outside the IT department. Narrow the Focus, Increase the Quality with Frank Slootman - LinkedIn Slootman's pay includes more than 13.7 million options with a strike price of $8.88. 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. He owns 5.9% of Snowflake. She would also help a board address key issues including digital transformation, human capital, governance, and M&A. Formerly Jayshree was Senior Vice President at Cisco, responsible for a $10B business in datacenter, switching and services. "It was not the kind of environment that I enjoyed participating in," Haldeman said. By the close of Snowflake's first day of trading, its stock had shot up as much as 165%. Snowflake Inc. CEO Frank Slootman is one of the tech world's most accomplished executives in enterprise growth, having led Snowflake to the largest software IPO ever after leading Data Domain and ServiceNow to exponential growth and the public market before that. Snowflake CEO collects a $95 million payout every month 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. A Pac52 sailboat like Slootman's Invisible Hand costs between $1.8 million and $2.5 million. 10 Things You Didn't Know About Frank Slootman - Money Inc It is highly unusual for a board to make leadership changes in a company that is 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. I'm just a CEO.". Forthright Slootman was brought into the world on October 3, 1958, and is 61 years of age as of September 2020. summer of 2003 until its acquisition by EMC during the summer of 2009. Teresa Briggs is a senior executive with deep experience in strategy, business transformation, and governance. Most recently, Christian worked at Google leading YouTubes infrastructure and data systems. Frank Slootman is the Chairman and CEO of Snowflake. John was responsible for $1.4B in annual revenue, when he served as Senior Vice President of Worldwide Sales and Services at BMC Software. In addition, her organization managed finance for the companys supply chain, marketing, corporate communications, operations, HR, and IT groups. Talk to him at length, though, and watch the patterns, and you can see thats not true. Slootman told CNBC in October that he had no time for Silicon Valley's "lattes and neck rubs" culture. Profile of Billionaire Snowflake CEO Frank Slootman - Business Insider There is no information on his parents, siblings, or any other family members. Please help to demonstrate the notability of the topic by citing, Learn how and when to remove this template message, https://xconomy.com/san-diego/2011/04/26/service-now-names-software-industry-veteran-frank-slootman-as-ceo/, https://www.businessinsider.com/servicenow-frank-slootman-interview-2012-8, https://www.forbes.com/sites/tomtaulli/2019/06/05/snowflake-the-ai-force-multiplier/amp/, https://www.cnbc.com/2020/09/16/snowflake-snow-opening-trading-on-the-nyse.html, article "Frank Slootman" is from Wikipedia, https://wikitia.com/index.php?title=Frank_Slootman&oldid=81954, Articles with topics of unclear notability, All articles with topics of unclear notability. See Bio. 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. Here's how he makes and spends his fortune. Better modeling and the focus shift to larger accounts also made it easier to guess how users might expand or contract. Two years after Slootman came aboard as the CEO of ServiceNow, in 2011, he moved its headquarters to Santa Clara, in Silicon Valley. They obviously felt they would materialize more of Visit the Business section of Insider for more stories. Chief Human Resources Officer. Experience obviously and a few units in field test. He holds a B.A. "He would always crash my executive briefings," Wyss said. Business is what I'm good at.". Frank Slootman Net Worth 2020/2021, Salary, Age, Bio, Weight, Height by Laura Draper, Head of Content. Most people have no clue what really goes on in board rooms. Published Apr 13, 2021. Along the way, investors witnessed his brusque leadership style firsthand when Leone made the mistake of interrupting Slootman with unprompted advice in a board meeting. regardless of who is CEO. "He's not somebody who has a need to be liked.". Linked companies : Snowflake Inc. Out went executives and sales reps who didnt fit Slootmans mold or didnt want to work for new supervisors who did. I have never crossed paths with Larry Ellison on the sailing front although Ive had many crew over the years who sailed with Larry. See Bio. A standout economics student at Erasmus University Rotterdam, Slootman finished school a year early to pursue internships in the United States. Wyss said. 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. 2 min read. That's it.". Frank Slootman Wife, Bio, Net Worth, Salary, Book, Married, Children from Seattle University School of Law. Did you still want to challenge yourself at the helm of a company that could do great things? Thierry is a leading expert in query optimization and parallel execution. 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. That's not him at all. Snowflake CEO Frank Slootman talks vision, AWS tension and IPO plans I have no playbooks, I am entirely The book . He said Slootman would check the navigation at all hours of the night to ensure Invisible Hand held its lead. Prior to Cisco, she was Vice President and Chief Financial Officer of GE Healthcares Healthcare Systems business. Frank Slootman, CEO of Snowflake, on the day of its 2020 IPO, Sept. 16th, 2020. Prior to joining Snowflake, Sylvia was Vice President of Global Operations and Business Applications at ServiceNow. I will return to it at some point. It took on another $450 million, this time at a $4 billion valuation, about nine months later. Stay up to date with what you want to know. Insiders say the CEO doesn't care about social causes. Publisher (s): Wiley. #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 . Chandna mentioned a Greylock startup that planned on tripling sales. 10 Facts About Frank Slootman. We were undoubtedly slow the board gives me the chairman title or not does not matter. 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. Slootman: Whether "In the Bay Area, by contrast, it is raw ambition, singular drive, and unbridled capitalism in action.". "You could not escape the combat mentality at our companies. CEOs that have a relentless, unapologetic focus on the business. But Slootman was more interested in running the show, and Snowflake seized the opportunity. Frank has over 25 years of experience as an entrepreneur and executive in the enterprise software industry.