Snowflake Inc. reported its fourth-quarter financial results, surpassing Wall Street's expectations with earnings per share (EPS) of $0.35 and revenue of $774.7 million, against the anticipated $0.18 EPS and $759.6 million revenue. Despite these strong results, Snowflake's stock experienced a significant drop, plunging over 25% in after-hours trading, following the announcement of 65-year-old CEO Frank Slootman's retirement and the appointment of Sridhar Ramaswamy as the new CEO. The company provided a lower-than-expected revenue forecast for Q1, estimating between $745 million and $750 million, compared to the expected $769.5 million. This guidance and the leadership change have contributed to the stock's decline. Slootman, who will continue as Chairman of the Board, is succeeded by Ramaswamy, a former Senior Vice President of AI at Snowflake and a long-time Google executive.