Snowflake announces planned retirement of CFO Michael Scarpelli

In a regulatory filing, Snowflake (SNOW) announced that on February 25, Michael P. Scarpelli notified the company of his intention to retire as CFO. The company is conducting a search for Scarpelli’s successor. Scarpelli expects to remain in his current role until his successor is appointed, after which he will transition to an advisory role to support continuity and a smooth transition. The company and Scarpelli have not set an effective date for his retirement. Also on February 25, the company and Scarpelli entered into a consulting agreement setting forth the terms of his post-employment advisory role. Under the agreement, Scarpelli will serve as an independent contractor for a 12-month term following the effective date of his departure.