Here are 20 senior executives who have abandoned Snap since its IPO less than 2 years ago
- At least 20 executives have left Snap since the company went public in March 2017.
- The latest to quit is chief financial officer Tim Stone, who is leaving after just eight months in the job.
- The string of departures has left Wall Street jittery, and Snap's stock is down 10% in pre-market trading.
- Analysts have questioned this '"lack in continuity" at management level.
At least 20 executives have left Snap in the past two years, with just a handful of people considered to be CEO Evan Spiegel's lieutenants left at the company.
The latest departure is chief financial officer Tim Stone, who replaced Andrew Vollero in May 2018, but has stepped down after just eight months on the job.
Stone's departure, coupled with the news that vice president of investor relations Kristin Southey quietly left in November, has prompted jitters on Wall Street.
Analysts at Jefferies wrote in a note to investors:
"When Stone was initially hired, we were hopeful for improved financial prudence and better communication with the Street. In his first two quarters Stone laid out financial guidance and seemed to be focused on being prudent with investments with a focus towards sustainable growth. However, with Stone's sudden departure we question the direction that management will take the business."
Here are all the executives who have left Snap since it went public in March 2017:
SEE ALSO: Snap is losing its CFO after less than a year, and the stock is plummeting
Chief financial officer, Tim Stone, announced his departure in January 2019.
Snap hired Tim Stone to replace its first CFO, Andrew Vollero, in May 2018. Stone had previously worked at Amazon, a famously tough working environment, but only stuck around at Snap for eight months before the company announced his departure. The news of Stone's move sent Snap's stock plummeting.
Snap confirmed its head of HR Jason Halbert was leaving in January 2019.
Business Insider broke the news in January that Halbert would be leaving Snap. He has been at the firm for almost four years, and oversaw the firm's human resources department. He was described as "infamous" in a profile by The Information for sharing stories with staff about everything from how he masturbated during his time in the military to his run-ins with organized crime in Mexico.
Head of global strategic partnerships Elizabeth Herbst-Brady quit in January 2019.
In January 2019, Business Insider broke the news that Herbst-Brady would be leaving Snap. She was responsible for ad agency relationships and key accounts for Snap and previously served as head of New York ad sales for the company. Her departure came after a mix-up with fellow sales exec Kristen O'Hara, who was offered the role of chief business officer, but had the offer rescinded days later. That decision caused division in the sales team, sources said.
See the rest of the story at Business Insider
Contributer : Tech Insider https://read.bi/2Mc4EZo
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