Snap has announced that they have promoted current VP of Finance, Derek Andersen to Chief Financial Officer. Andersen will take over the responsibilities of interim CFO Lara Sweet and report to CEO Evan Spiegel. Sweet will transition into a new role as Chief People Officer and continue as Chief Accounting Officer until a replacement is named.
Andersen was previously employed at Amazon from March 2011 to June 2018, serving in a variety of roles, most recently as Vice President of Finance supporting Amazon’s digital video business. Sweet has served as Chief Accounting Officer since October 2017, and previously served as Controller since June 2016. From November 2014 to June 2016, Sweet served as Controller and Chief Accounting Officer at AOL and previously served there as Vice President, Internal Audit from April 2014 to November 2014, and Vice President, Assistant Controller from August 2011 to April 2014.
Evan Spiegel, Snap's CEO & co-Founder, said in a statement: “I am thrilled to announce the promotions of Derek and Lara, which reflect their strengths as leaders. Derek has played a critical role in building our finance function since joining Snap almost a year ago, as well as leading our cost efficiency initiatives and strategic planning processes. We’re confident that Derek brings important stability to this vital role, given his strong financial expertise and impressive accomplishments working together with our team.”
About Sweet, Spiegel said: “Lara has provided seamless continuity throughout the transitions in our finance team. I’ve long admired Lara’s approach to building culture and managing talent, so when she asked me for the opportunity to focus on People I was thrilled for her to step into this role. We are excited to see her lead our people-focused initiatives, which will emphasize Snap’s talent as a core advantage for our business. I am confident that with Derek and Lara’s leadership in these key functions, we will continue to execute against our long-term vision.”
Check out Snap's updated org chart here.
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