Snowflake
- Snowflake's Frank Slootman just announced his retirement.
- BI reported last year on rumors of Slootman's impending departure.
- The company's stock dropped 20% with the announcement.
When Business Insider approached Snowflake CEO Frank Slootman in June to ask him if internal chatter about his impending retirement was right, Slootman said it was "completely untrue."
Just eight months later, Slootman has announced he is retiring, effective immediately. His replacement is Google ad exec Sridhar Ramaswamy.
"You are wrong on all counts. You are regurgitating competitive FUD," Slootman wrote in an email to BI in June in his famously direct, no-nonsense style.
"FUD," which can stand for "fear-uncertainty-doubt" or "fear-uncertainty-disinformation," is a slang term that was a favorite old-school tech acronym among tech workers in the 1980s.
Snowflake stock dropped more than 20% in the after-hours market after Slootman's announcement.
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