Snowflake Shares Plummet Over 20% After Billionaire CEO Frank Slootman Announces Retirement

ToplineCloud computing company Snowflake’s stock tanked more than 20% in after-hours trading Wednesday after the company announced billionaire CEO Frank Slootman is retiring.Slootman joined Snowflake in 2019.Christie Hemm Klok/The Forbes Collection Key FactsSnowflake’s stock closed down nearly 2% on Wednesday at $230, later plunging as much as 24% in after-hours trading to around $173. Slootman, who has been with the company for nearly five years and was instrumental in its historic IPO, will continue as t ...