From September 2019 through August 2020, Teresa is enrolled as a Fellow at Stanford Universitys Distinguished Careers Institute. A crewmember said Slootman stopped sailing competitively because "everybody was out to get him.". Frank Slootman is the biggest Snowflake of them all. Prior to working for Snowflake, Frank took the CEO spot at ServiceNow when it had less than $100 million in revenues and took it to $1.4 billion. Denise Persson. Biography of Frank Slootman : Presently, Frank Slootman is Chairman & Chief Executive Officer of Snowflake, Inc. In June 2012, ServiceNow became a publicly-traded company as Frank Slootman led the company through a $210 million IPO. By the close of Snowflake's first day of trading, its stock had shot up as much as 165%. It . From what we have known, Frank Slootman is married to his wife Brenda Lynne Slootman. were months away from running out of money. 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. Otherwise, Im going to go ahead and run the company., When Slootman expressed interest in the Snowflake CEO job, Sequoia and Sutter Hill jumped. Mar 11, 2021, 11:30 ET. At the Scarpelli holds a bachelors degree in economics from the University of Western Ontario. In a June 2019 Insider interview, weeks after he joined Snowflake, the CEO said it was "absurd" that the software company Palantir had been criticized for working with Immigration and Customs Enforcement, and he dismissed the issue of gender-appropriate bathrooms. Everyone, that is, except Slootman. 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. NOW WATCH: Warren Buffett is one of the most frugal billionaires. It was hard for me to work in a big company, too slow and rigid, just not inspired. Data Domain was running out of money; its technology, while theoretically more powerful than the existing alternatives, ran prohibitively slowly. Im more interested in why you returned to the CEO frontline than the specific possibilities at Snowflake. After the Data Domain acquisition, Slootman spent two years inside EMC as president of the Backup and Recovery Systems Division. Thierry Cruanes. See Bio. 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. I always felt I was born in the wrong country. We're getting a no-nonsense guy who quotes Patton.'". His dream employer: IBM. He barely slept, said Ruben Gabriel, one of the crew. SAN FRANCISCO, March 11, 2021 /PRNewswire/ -- Instacart, the leading online grocery platform in North America, today announced that Frank Slootman, Chairman and Chief . 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. I do prefer the earlier stages of growth. His personal net worth, an estimated $2.2 billion, is an extraordinary figure for someone who has never been part of a company in its earliest days. Similar is the scenario with his married life. Most people have no clue what really goes on in board rooms. The vast majority can already be exercised but the underlying shares vest monthly over four years, beginning . 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. 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. "Frank would never do that. Time will tell, of course. 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 likes to say that he doesnt have a formula, even after having pulled off similar magic at both Data Domain and ServiceNow. Mark currently serves as Chairman of the board of directors of Qualcomm, Inc. and as a director of Snorkel.AI. Under his tenure, Snowflake's customer count grew from 80 in June 2015 to . 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. 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. Save my name, email, and website in this browser for the next time I comment. As Slootman put it: "I'm not the leader of the free world. 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. ISBN: 9781119836117. "That was kind of awesome. Subscribe. 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. Collin Biondo also works in the tech world as an engineer at the email-security startup Abnormal Security. Prior to Cisco, she was Vice President and Chief Financial Officer of GE Healthcares Healthcare Systems business. 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. Frank has over 25 years of experience as an entrepreneur and executive in the enterprise software industry. Formerly Jayshree was Senior Vice President at Cisco, responsible for a $10B business in datacenter, switching and services. Frank Slootman is currently a married man. The simplest explanation is that investors wanted someone 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. Slootman came on board in early May 2019 and started his sterling resume in the enterprise software world. I would say, Were spending like drunken sailors, and they would say, Yes, keep doing it. And it was the right thing to do.. People want to be patted on the back and feel good I'm into not feeling good.". Snowflake, valued at $4 billion when Slootman took over, more than doubled that first day and is up significantly since. And Frank got tired of it. The job of the board is to hire and fire the CEO. He holds a BA from the University of Delaware. and six thousand enterprise customers worldwide. She is a recipient of the SFSU and SCU Distinguished Alumni Awards in 2013 and 2016. 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. Talking about his education, Frank first attended in Netherlands School of Economics and graduated in 1977. Out went executives and sales reps who didnt fit Slootmans mold or didnt want to work for new supervisors who did. Blocks & Files: When you became chairman and CEO at Snowflake were you feeling restive? These LOBS could switch on a service instead of needing their own software tools to manage processes. Jeremy also served as Veritas Executive Vice President of Data Management Group and Chief Marketing Officer. Michael Scarpelli serves as Chief Finance Officer at Snowflake. Do you get on with Larry Ellison with regard to sailing? Denise holds a BA in Business Administration and Economics from Stockholm University, and holds an MBA from Georgetown University. He helped define the architecture and lead database performance efforts for Bulls parallel systems. After that it was board membership; Pure Storage, Medallia and Elementum SCM,and more VC investing with his own Invisible Hand Ventures. 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. He has more than 15 years of management and leadership experience. 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. It also changes over time. 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. CNBC Snowflake books its revenue using a "consumption model," Slootman said, rather than a typical subscription . re-enter the workforce. 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. These are people we knew from previous rodeos, Slootman says with a shrug. But all that changed when Slootman came aboard. "When you have the potential [to build] one of the game-changing companies of all time, you should take the chance," Speiser told Forbes. "For many, this is very attractive," Slootman said of San Diego's laid-backness. After all, the former Snowflake executive said Slootman made it crystal clear that his No. Previously, Mike was Vice President and Technical Advisor to Symantecs Chairman & CEO. Benoit has a PhD in Computer Science with a focus in Parallel Database Systems and is a named inventor on more than 100 patents. Blocks & Files: Do you believe it best or necessary for yourself that the chairman and CEO roles be combined? What's between them going even faster?'". 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. In 2019, before the company went public, Slootman made more than $60 million in total compensation. Mr. Slootman is a billionaire businessman who was born on 3 rd October 1958 in Holland. He's donated $14,550 to Republicans in the past five years, according to the Center for Responsive Politics. He spent 13 years at Oracle focused on the optimization and parallelization layers in Oracle databases including as lead for the optimization group. I also did not like SaaS that much as a business model, comes to mind first, I have learned lessons from Amazon just observing from At ServiceNow and also at Snowflake you replaced previous CEOs who had already built the companies to substantial sizes. enters into it, but I try not be a pattern matcher or be confined to my own To win over large customers like Johnson & Johnson, he repositioned ServiceNow from a help-desk IT solutionnot exactly something to excite a fellow CEO in a meetingto an all-you-can-eat buffet of tools that could help a needy CIO solve any challenge. Blocks & Files: Are you still involved in regatta racing with your yacht Invisible Hand? Greg has a PhD in Computer Science from Cornell University, an MBA from UC Berkeley, and an undergraduate degree from AGH Krakow, Poland. Data Domain was a venture backed storage company founded in late 2001, grew at record pace to an IPO on NASDAQ in 2007 and was acquired by EMC . He was more insulated. A Pac52 sailboat like Slootman's Invisible Hand costs between $1.8 million and $2.5 million. Slootman: My role John was responsible for $1.4B in annual revenue, when he served as Senior Vice President of Worldwide Sales and Services at BMC Software. "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. In 2014, after two years under the radar focusing on shipping the software, Speiser tapped Muglia to replace him as CEO. This is good news for Snowflake.. Slootman has no qualms breaking with convention. Hes, like, Im getting [to be an] old man, I dont have time to wait. Thats just how he operates, Degnan says. I was rejected at least a dozen times by IBM. 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. + Follow. 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 . Frank Slootman is the Chairman and CEO of Snowflake. in Engineering (Electrical) and an M.S. He holds a B.A. 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. 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. 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. "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.". 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. This story appears in the March 31, 2021 issue of Forbes Magazine. Snowflake CEO Frank Slootman sat down recently for an episode of our Rise of the Data Cloud podcast to discuss what the Data Cloud means for businesses - and what the future holds. Experts say Snowflake, which today has a market valuation of nearly $77 billion, has been bolstered by therise of remote work during the pandemic. 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. 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 2011, Slootman joined ServiceNow as its CEO. Data Domain Inc. Jun 2003 - Jul 20096 years 2 months. The beloved chocolate snacks disappeared, and daily catered lunches were replaced by an in-house cafeteria that was still free but seen by some as a downgrade. and a few units in field test. Muglia, for his part, told Insider that he couldn't comment on the personality of his replacement. It was founded in July 2012 and was publicly launched in October 2014 after two years in stealth mode. asked a year earlier, I likely would not have bit down on this. And there'd be some praise or whatever," Chandna said. bar after ServiceNow. Just six months in, he had lined up his anchor investors, including Dragoneer Investment Group and Marc Benioffs Salesforce. Slootman knows exactly what he's doing. 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. Key Learnings from: Narrow the Focus, Increase the Quality. While some in Silicon Valley warn of a backlash, Slootman's main concern is winning. by Frank Slootman. The seven-day competition, the Transpacific Yacht Race, was a test of both mental and physical stamina, in which he navigated his boat with a 10-person crew while cold, wet, and sleep-deprived. So far, Snowflake is outrunning its competition. In the past Mr. Slootman occupied the position . The company is going to have a great outcome
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