Snowflake, a cloud database startup that has raised nearly $930 million, announced it is replacing its CEO Bob Muglia with Frank Slootman, an enterprise tech veteran who was previously CEO at SaaS company ServiceNow and storage company Data Domain.
Mr. Muglia, who joined Snowflake as CEO in 2014 when it launched its first commercial product, has done a good job building the company’s business over the past five years, according to a person close to Snowflake. The decision to bring on Mr. Slootman was based on the fact that he has more operational experience than Mr. Muglia, said the person.
In an interview with The Information last month, Mr. Muglia said Snowflake doesn’t expect to go public this year, but might do so next year or the year after. One question is whether that timeline will accelerate under Mr. Slootman, who previously led ServiceNow and Data Domain to initial public offerings.